Crone Corporation uses the FIFO method in its process costing system.The following data concern the company's Assembly Department for the month of August. Required:
Determine the cost of ending work in process inventory and the cost of units transferred out of the department during August using the FIFO method.

Question

Crone Corporation uses the FIFO method in its process costing system.The following data concern the company's Assembly Department for the month of August.   Required:
Determine the cost of ending work in process inventory and the cost of units transferred out of the department during August using the FIFO method.

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The Answer of Crone Corporation uses the FIFO method in its process costing system.The following data concern the company's Assembly Department for the month of August.   Required:
Determine the cost of ending work in process inventory and the cost of units transferred out of the department during August using the FIFO method.

Crone Corporation Uses the FIFO Method in Its Process Costing