Exercise $8-38($Algo$)$ Assign Costs to Goods Transferred Out and Ending Inventory: Weighted$-$Average

Method $($LO $8-2,3)$

The following cost information is available for July for the Crest Plant at Calvert Company:

Materials are added at the beginning of the process. The following quantities have been recorded:

Beginning inventory, $44,400$ partially complete gallons, $25$ percent complete with respect to conversion costs.

Units started in July, $88,800$ gallons.

Units transferred out in July, $99,900$ gallons.

Ending inventory, $33,300$ gallons, $40$ percent complete with respect to conversion costs.

Required:

Compute the cost of goods transferred out and the ending inventory for July using the weighted$-$average method.

Note: Do not round your intermediate calculations.