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Student Name
Course Name
Professor Name
FIFO method:
Transferred to the next department: Amount
From the beginning work in process inventory:
Cost in beginning work in process inventory............... $ 1,920
Cost to complete these
units:
Materials, 360 EUs at $9.50 per EU............................ $ 3,420
Conversion, 140EUs at $20.40 per EU............................ $ 2,856
Total cost from beginning inventory............................ $ 8,196
Units started and completed this month, 3,130 units at
$29.90 per unit.............................................................. $ 93,587
Total cost transferred to the next department............ $ 101,783
Work in process, October
31:
Materials, 330 EUs at $9.50 per Equivalent
units............................ $ 3,135
Conversion, 264 EUs at $20.40 per EU....................... $ 5,386
Total work in process, October 31............................. $ 8,521