Help Save & Exit Subm Required information Exercise 8-33 & 8-34 (Algo) (LO 8-2, 3) The following information applies to the questions displayed below) The Matsul Lubricants plant uses the weighted average method to account for its work in process inventories. The accounting records show the following information for a particular day Beginning IP inventory Direct materials Conversion costs Current period costs Direct materials Conversion costs 962 497 23,190 12.537 Quantity Information is obtained from the manufacturing records and includes the following Beginning inventory Current perind its started Ending inventory 600 units ( complete to material 5,500 units 56% complete to convertin) 1,700 units (colate as to waterials, 15 complete to con Conversion costs 23 12,537 Quantity information is obtained from the manufacturing records and includes the following Beginning inventory Current period units started Ending Inventory 6e0 units ( complete as to materials, 565 complete as to conversion) 5,500 units 1.700 units (40% complete as to waterials 15% complete as to conversion) Exercise 8-34 (Algo) 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 using the weighted-Perage method. (Do not round intermediate calculations.) Costs of goods transferred out Costs on ending inventory