5 of 2 Required information Exercise 8-33 & 8-34 (Algo) (LO 8-2,3) The following information applies to the questions displayed below) The Matsui Lubricants plant uses the weighted average method to account for its work in process inventories. The accounting records show the following information for a particular day ook Beginning IP Inventory Direct materials Conversion costs Current period costs Direct materials Conversion costs $ 1,010 527 24,060 34,390 Quantity information is obtained from the manufacturing records and includes the following arances Beginning inventory Current period units started Ending inventory 700 units completes to materials 545 complete as to conversion) 5,700 units 1.900 units complete stok 25% complete as to conversion prit Exercise 8-34 (Algo) Assign Costs to Goods Transferred Out and Ending Inventory: Weighted Average Method (LO 8-2,3) Compute the cost of goods transferred out and the ending inventory uning the weighted average method. (Do not round intermediate calculations.) uteruncus Costs of goods transferred out Costsin ending inventory