Question: Soda Corporation uses the FIFO method in its process costing system. The following data are for the most recent month of operations in one of

Soda Corporation uses the FIFO method in its process costing system. The following data are for the most recent month of operations in one of the processing departments: Units in beginning inventory 500 Units started in production 2,900 Units in ending inventory 400 Units transferred to the next department 3,000 Materials Conversion Percentage completion of beginning inventory 70% 30% Percentage completion of ending inventory 60% 50% The cost per equivalent unit for the month were $26.50

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