What is the fifo value of conversion costs transferred out

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Question - Brookside Manufacturing's Work in Process records for June had the following information regarding conversion costs:

Beginning inventory 10,000 units, 80% complete

Value of beginning inventory $49,000

Conversion costs added $502,000

Completed units transferred out 70,000

Ending inventory 20,000 units, 50% complete

Required - What is the FIFO value of conversion costs transferred out of Work in Process to Finished Goods Inventory for the month of June?

Reference no: EM133175513

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