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The Sheridan Company and The Skysong Company each started January with 2 5 0 units in beginning WIP Inventory; these units had already received 6
The Sheridan Company and The Skysong Company each started January with units in beginning WIP Inventory; these units had
already received of their conversion costs. Both companies began another units during January and ended the month with
units in ending WIP Inventory. Units in ending WIP Inventory had of conversion costs by the end of January. The Sheridan
Company adds DM at the very beginning of the process. The Skysong Company adds DM when units are complete for conversion
costs. Conversion costs are added evenly throughout the process for both companies.
For The Sheridan Company: complete Step of the template to verify physical units and identify degree of completion under the
FIFO method and weightedaverage method.
FIFO MethodSheridan Company
Weightedaverage methodSheridan Company
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