Exercise $8-41$ & $8-42($Static$)($LO $8-2,3)$

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Annin Laboratories uses the weighted$-$average method to account for its work$-$in$-$process inventories. The accounting records show the following information for February:

Beginning WIP inventory

Direct materials $ $20,553$

Conversion costs $6,805$

Current period costs

Direct materials $225,147$

Conversion costs $117,460$

Quantity information is obtained from the manufacturing records and includes the following:

Beginning inventory $6,000$ units $(40\%$ complete as to materials, $15\%$ complete as to conversion$)$

Current period units started $44,000$ units

Ending inventory $11,000$ units $(75\%$ complete as to materials, $35\%$ complete as to conversion$)$

Exercise $8-42($Static$)$ Assign Costs to Goods Transferred Out and Ending Inventory: Weighted$-$Average Method $($LO $8-2,3)$

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

Note: Do not round intermediate calculations.