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Calculate the cost of goods transferred out

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Problem - For August, Lanny Company had 25,000 units in BWIP, 40% complete, with costs equal to $36,000. During August, the cost incurred was $450,000. Using the FIFO method, Lanny had 125,000 equivalent units for August. There were 100,000 units transferred out during the month. Calculate the cost of goods transferred out?

a. $500,000.

b. $360,000.

c. $450,000.

d. $400,000.

e. $50,000.

Reference no: EM132700046

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