Wood Company transferred 5,500 units to Finished Goods Inventory during October.On October 1,the company had 300 units on hand (40 percent complete as to both material and conversion costs).On October 31,the company had 800 units (10 percent complete as to material and 20 percent complete as to conversion costs).The number of units started and completed during October was:

Question

Quizplus · Accepted Answer

The number of units started and completed is calculated by subtracting the beginning inventory from the units transferred out and adding the ending inventory that is not yet complete. Therefore, 5,500 units transferred - 300 units beginning + 800 units ending = 5,200 units started and completed.

Wood Company Transferred 5,500 Units to Finished Goods Inventory During