Required information

Exercise $8-45,8-46,8-47\backslash$& $8-48($Algo$)($LO $8-2,3,5)$

$[$The following information applies to the questions displayed below.$]$

Bellevue Chemicals had beginning work$-$in$-$process inventory of $\backslash (\backslash$$ $253,885\backslash )$ on March $1.$ Of this amount, $\backslash (\backslash$$ $102,205\backslash )$ was the cost of direct materials and $\backslash (\backslash$$ $151,680\backslash )$ was the cost of conversion. The $24,300$ units in the beginning inventory were $45$ percent complete with respect to direct materials and $65$ percent complete with respect to conversion costs.

During March, $58,450$ units were transferred out and $15,500$ remained in ending inventory. The units in ending inventory were $70$ percent complete with respect to direct materials and $15$ percent complete with respect to conversion costs. Costs incurred during March amounted to $\backslash (\backslash$$ $944,225\backslash )$ for direct materials and $\backslash (\backslash$$ $1,051,665\backslash )$ for conversion.

Exercise $8-48($Algo$)$ Assign Costs to Goods Transferred Out and Ending Inventory: FIFO Method $($LO $82,5)$

a$-1.$ Compute the cost of goods transferred out and the cost of ending inventory for March using the FIFO method.

a$-2.$ Is the ending inventory higher or lower under the weighted$-$average method compared to FIFO?