Griffith company started its production operations on july, Ask an Expert

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Griffith Company started its production operations on July 1. During July, the silk-screening department completed 15,600 units. There were 2,400 units in ending inventory which were 75% complete with respect to materials and 20% complete with respect to conversion costs. During July, the department accumulated materials costs of $40,890 and conversion costs of $69,948.

a. Calculate the cost of the goods transferred out.

b. What is the value of the ending inventory?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9396050

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