A company which operates a process costing system had work-in-progress at the start of last month of 300 units (valued at $1710) which were 60 percent complete in respect of all costs. Last month a total of 2000 units were completed and transferred to the finished goods warehouse. The cost per equivalent unit for costs arising last month was $10. The company uses the FIFO method of cost allocation.
What was the total value of the 2000 units transferred to the finished goods warehouse last month?
(a) $19,910
(b) $20,000
(c) $20,510
(d) $21,710