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The following information pertains to the Moline Facility for the month of May (all materials are added at the beginning of t
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Answer #1

(A)Total cost of all inventory= opening WIP+ purchases =$29000+$99000

=$128000

(B) Total of inventory=WIP+ purchases(started in may)

=70000+270000

=340000units

(C) cost per equivalent unit=cost of inventory/ total inventory

=$128000/340000units

=$0.38

(D)cost of goods available for sale=245000units*$0.38

=$93100

(E) Cost of closing WIP=Total cost of inventory- (D)

=$128000-$93100

=$34900

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