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Asked by Aishah Khalea on May 02, 2024

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The cost of ending work in process inventory in the first processing department according to the company's cost system is closest to:

A) $51,115
B) $46,770
C) $93,540
D) $60,801

Ending Work

This term could refer to the final stages of a work process or project, but without more context, it is not clearly identifiable as a standard key term.

Cost System

The method or process by which the costs of products or services are calculated and tracked within an organization.

  • Understand the calculation of ending work in process inventory cost.
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BJ
Bailey JuniusMay 02, 2024
Final Answer :
A
Explanation :
FIFO method
Units started and completed during the period = Units completed during the period - Units in beginning work in process inventory = 7,800 - 700 = 7,100 FIFO method Units started and completed during the period = Units completed during the period - Units in beginning work in process inventory = 7,800 - 700 = 7,100 Reference: APP05A-Ref13 (Chapter 5S)Puri Corporation uses the FIFO method in its process costing system.Data concerning the first processing department for the most recent month are listed below: Note: Your answers may differ from those offered below due to rounding error.In all cases, select the answer that is the closest to the answer you computed.To reduce rounding error, carry out all computations to at least three decimal places. FIFO method Units started and completed during the period = Units completed during the period - Units in beginning work in process inventory = 7,800 - 700 = 7,100 Reference: APP05A-Ref13 (Chapter 5S)Puri Corporation uses the FIFO method in its process costing system.Data concerning the first processing department for the most recent month are listed below: Note: Your answers may differ from those offered below due to rounding error.In all cases, select the answer that is the closest to the answer you computed.To reduce rounding error, carry out all computations to at least three decimal places. FIFO method Units started and completed during the period = Units completed during the period - Units in beginning work in process inventory = 7,800 - 700 = 7,100 Reference: APP05A-Ref13 (Chapter 5S)Puri Corporation uses the FIFO method in its process costing system.Data concerning the first processing department for the most recent month are listed below: Note: Your answers may differ from those offered below due to rounding error.In all cases, select the answer that is the closest to the answer you computed.To reduce rounding error, carry out all computations to at least three decimal places. Reference: APP05A-Ref13
(Chapter 5S)Puri Corporation uses the FIFO method in its process costing system.Data concerning the first processing department for the most recent month are listed below: FIFO method Units started and completed during the period = Units completed during the period - Units in beginning work in process inventory = 7,800 - 700 = 7,100 Reference: APP05A-Ref13 (Chapter 5S)Puri Corporation uses the FIFO method in its process costing system.Data concerning the first processing department for the most recent month are listed below: Note: Your answers may differ from those offered below due to rounding error.In all cases, select the answer that is the closest to the answer you computed.To reduce rounding error, carry out all computations to at least three decimal places. Note: Your answers may differ from those offered below due to rounding error.In all cases, select the answer that is the closest to the answer you computed.To reduce rounding error, carry out all computations to at least three decimal places.

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