16. Golden Inc. adopted weighted-average process costing system. Direct materials and conversion costs are incurred evenly during the production process. Following are selected financial information about current period production. Beginning During Ending Direct materials N/A $79,400 N/A Conversion costs N/A $140,000 N/A WIP 10,000 units/ $ 8,600 6,000 units/ 50% completed Finished goods 54,000 were transferred out Calculate what's the weighted-average inventory cost per unit completed during the period? A. $3.51. B. $3.88. C. $3.99 D. $4.00. A review of the year-end accounting records of Elk Industries discloses the following information. Accounts Ending Balance Raw materials $80,000 Work-in-process $128,000 Finished goods $272,000 Cost of goods sold $1,120,000 The company's underapplied overhead equals $133,000. On the basis of this information, Elk's cost of goods sold is most appropriately reported as A. $987,000. B. $1,213,100. C. $1,218,000. D. $1,253,000