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USE FIRST-IN, FIRST-OUT COSTING
Sulu Company produces its finished product in two processing
departments--Assembly and Packaging.
The following information is available for the month of
July:
Assembly Department:
The beginning work-in-process inventory was $5,755 ($4,815
direct materials and $940 conversion costs) and consisted of 350
units that were 10% complete as to conversion costs.
During July, an additional 4,500 units were started into
production.
A...