Question: The answer is B, but could you explain how to get this answer? A company operates a process costing system using the first in, first

The answer is B, but could you explain how to get this answer?

A company operates a process costing system using the first in, first out (FIFO) system of valuation. No losses occur in the process. The following data relate to January: Opening WIP; 200 units with a totel value of C1, 530 Input to the process: 1,000 units Completed production: 1,040 units The cost per equivalent unit of production was C20 and the degree of completion of the work In progress was 40% throughout the month. What was the cost of January's closing work in progress? A C1.224 B (1,280 C JEE'TD D E1,920

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