Problem #4 Compute the value assigned to ending inventory of goods in process and to the goods transferred to finished goods inventory for the Browning Company based on the weighted average method of inventory costing using the following information:

The Browning Company had 8,700 units in beginning inventory with accumulated costs for direct materials = $17,900, $16,500 = direct labor, and $13,200 = overhead. During July, the company completed and transferred 50,000 units to finished goods. Costs incurred in the current period included $45,000 = direct materials, $58,500 = direct labor, and $46,800 = factory overhead. Ending inventory consisted of 12,000 units which were 80% complete with respect to materials and 50% complete with respect to labor and overhead. Compute the value assigned to ending inventory based on the weighted average method of inventory costing.

please include explanations