Question: 8-39 added for reference. I am asking about 8-40 Chapter 8 Process Costing WIP inventory-Department T Beginning inventory (15,000 units, 60% complete with respect to
Chapter 8 Process Costing WIP inventory-Department T Beginning inventory (15,000 units, 60% complete with respect to Department T costs) . .. Department T conversion costs. .. Current work (35,000 units started) 53,150 Prior department costs.... . 280,000 209,050 The ending inventory has 5,000 units, which are 20 percent com- plete with respect to Department T costs and 100 percent com- plete for prior department costs. Required Prepare a production cost report using FIFO. 8-40. Prepare a Production Cost Report: Weighted-Average Method (LO 8-2, 3, Refer to the information in Exercise 8-39. Required a. Prepare a production cost report using the weighted-average method h Is the ending inventory higher using FIFO or the weighted-average method? Why? Would you recommend that Lansing use the FIFO method or the weighted-average method? Explain. (LO 8-2,4
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