Question

Circle Corporation finished 42,000 units during December. On December 31st, they had 8,200 units of inventory. The equivalent units for December 31st were 8,200 units for materials and 3,280 units for conversion costs. Circle uses the FIFO method of process costing. The following unit costs were calculated for the month of December: Beginning Beginning Finished Ending Ending Materials Conversion and Materials Conversion Transferred Unit Cost $2.90 $3.20 $5.40 $2.70 $3.20 What was the dollar amount of inventory on December 31st? Multiple Choice $34,276 $44,280 $61,992 $48,380 $32,636

          Circle Corporation finished 42,000 units during December. On December 31st, they had 8,200 units of inventory. The equivalent units for December 31st were 8,200 units for materials and 3,280 units for conversion costs. Circle uses the FIFO method of process costing. The following unit costs were calculated for the month of December:

Beginning Beginning Finished Ending Ending
Materials Conversion and Materials Conversion
Transferred
Unit Cost $2.90 $3.20 $5.40 $2.70 $3.20

What was the dollar amount of inventory on December 31st?
Multiple Choice
$34,276
$44,280
$61,992
$48,380
$32,636

Circle Corporation finished 42,000 units during December. On December 31st, they had 8,200 units of inventory. The equivalent units for December 31st were 8,200 units for materials and 3,280 units for conversion costs. Circle uses the FIFO method of process costing. The following unit costs were calculated for the month of December:

Beginning Beginning Finished Ending Ending
Materials Conversion and Materials Conversion
Transferred
Unit Cost 2.903.20 5.402.70 3.20

What was the dollar amount of inventory on December 31st?
Multiple Choice34,276
44,28061,992
48,38032,636

Added by Christopher H.

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