Refer to the information in Exercise 4.16. Suppose that Telemark-Kjemi uses the FIFO method instead of the weighted-average method in all its departments. The only changes under the FIFO method are that the total transferred-in cost of opening work in progress is NKr39200 and that the cost of work done in the current period is NKr85600.
Information In Exercise 4.16

Required
Do Exercise 4.16 using the FIFO method.

Transcribed Image Text:

Transferred-in costs Direct materials Conversion costs 45000 Opening work in progress at cost Cost per equivalent unit of 690000 opening work in progress Costs added in current period Cost per equivalent unit of work 6 58 500 5 57 200 E57000 done in current period 6.50 E3 5.20