The Sheridan Company and The Skysong Company each started January with $250$ units in beginning WIP Inventory; these units had

already received $60\%$ of their conversion costs. Both companies began another $2,180$ units during January and ended the month with

$110$ units in ending WIP Inventory. Units in ending WIP Inventory had $80\%$ 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 $75\%$ complete for conversion

costs. Conversion costs are added evenly throughout the process for both companies.

For The Sheridan Company: complete Step $1$ of the template to verify physical units and identify degree of completion under the

$(1)$ FIFO method and $(2)$ weighted$-$average method.

$(1)$ FIFO Method$-$Sheridan Company

$(2)$ Weighted$-$average method$-$Sheridan Company