Waiting for answer This question has not been answered yet. You can hire a professional tutor to get the answer.
The accounting records of company iclude the followinginformation relating to the current year: Dec1 Jan1 Materialsinventory.
The accounting records of company iclude the followinginformation relating to the current year:
Dec1 Jan1
Materialsinventory...............................................................$20,000 $25,000
Work in processinventory................................................... 37,500 40,000
Finished goods inventory,Jan1(10,000 units@ $21 perunit).. ? 210,000
Purchases of direct materials duringyear............................... 330,000
Direct labor costs assigned toproduction............................. 375,000
Manufacturingoverhead...................................................... 637,500
d. Compute the cost of inventory of finished goods at December31 of the current year, assuming that the FIFO method of inventoryis used
