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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.
Beginning WIP inventory
direct materials $976conversion cost $272current period costsdirect materials $11,440conversion cost $6,644
quantity information is obtained from the manufacturing records and includes the following:
Problem 1: Compute the cost of goods transferred out and the ending inventory using the weighted average method
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