1. Compare the two cost reconciliation reports (weighted average and FIFO). Identify and comment on any significant differences between the two reports. If you were a manager at Concrete Creations, which approach would you recommend and why? Be sure to identify the advantages and disadvantages to both approaches when making your analysis.

Percent Complete Materials Conversion 100% 60% Work in Process, Beginning Started into Production Completed and Transferrred Out Work in Process, Ending Units 10,000 90,000 80,000 20,000 100% 4070 40% Work in Process, beginning Cost added during period Materials Conversion $ 12,600 $ 12,400 $ 167,400 $ 119,350 Percent Complete Materials Conversion 100% 60% Work in Process, Beginning Started into Production Completed and Transferrred Out Work in Process, Ending Units 10,000 90,000 80,000 20,000 100% 4070 40% Work in Process, beginning Cost added during period Materials Conversion $ 12,600 $ 12,400 $ 167,400 $ 119,350