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Question - Beginning Work-in-Process is 5,650 units; 60,600 units completed, and ending Work-in-Process is 4,600 units, which are 100% complete for direct materials and 50% complete for conversion costs. The beginning WIP Inventory is 100% complete for direct materials and 50% complete for conversion.
Required -
1. What are the equivalent units for materials and conversion using the weighted-average method?
2. What are the equivalent units for materials and conversion using the FIFO method?
The company"s beginning merchandise inventory was $20,000 and its ending merchandise inventory was $21,000. What was the total amount of the company"s merchandise purchases for the month?
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