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ritvikc ritvikc
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6 years ago
FIFO Aluminum processes a single type of aluminum. During the current period the following information was given:

UnitsMaterial CostsConversion Costs
Beginning Inventory3,000$4,500$4,800
Started During the Current Period20,00048,00065,000
Ending Inventory2,500

All materials are added at the beginning of the production process. The beginning inventory was 30% complete as to conversion, while the ending inventory was 40% completed for conversion purposes.

FIFO Aluminum uses the first-in, first-out system of process costing.

What were the costs assigned to the units transferred out this period (round equivalent unit cost to the nearest penny)?
A) $113,160
B) $113,236
C) $113,980
D) $122,300
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pgiza834pgiza834
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#1
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6 years ago
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ritvikc Author
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#2
6 years ago
You're an excellent tutor!
wrote...
#3
3 years ago
I got the correct answer! thank you! you are the best
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