Transferred Direct Conversion Toal uses weighled-aveage process cong for to calculate the ending inventory balances on the Balance Sheet O B. to caiculate the Cost of Goods Soid on the Income Statement The cost transferred into Finished Goods Inventory is the cost ot SeaBound uses weighted-average process costing. watercraft: forming a lift's parts from galvanized steel, Read the requirements lar. Abbrev De More Info ti The lifts are transferred to Finished Goods Inventory before shipment to marinas across the country. SeaBound's Testing Department requires no direct materials. Conversion costs are incurred evenly throughout the testing process. Other information follows for the month of August fer UNITS 2,300 units Beginning Work-in-Process Inventory 7,300 units Transferred in from Assembling Department during the period Completed during the period 3,500 units Ending Work-in-Process Inventory (40% complete for conversion work) 6,100 units COSTS Beginning Work-in-Process Inventory (transferred in costs, $97,000; conversion cost, $17,000) S 114,000 Transferred in from the Assembly Department during the period 757,400 Conversion costs added during the period 66,160 Print Done In n/a nd then continue to the next