What amount of work in process inventory was transferred out to finished goods during January? On January

What amount of work in process inventory was transferred out to finished goods during January?

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On January 31, a snowstorm damaged the office of a small business, and some of the accounting information stored in the computer's memory was lost. The following information pertaining to January activities was retrieved from other sources: Direct materials purchased Work in process-beginning inventory Direct materials-beginning inventory Direct materials-ending inventory Finished goods-beginning inventory Finished goods-ending inventory Sales Manufacturing overhead and direct labour incurred Gross profit percentage based on net sales $19,440 2,160 6,480 10,800 12,960 2,700 64,800 23,760 40 % On January 31, a snowstorm damaged the office of a small business, and some of the accounting information stored in the computer's memory was lost. The following information pertaining to January activities was retrieved from other sources: Direct materials purchased Work in process-beginning inventory Direct materials-beginning inventory Direct materials-ending inventory Finished goods-beginning inventory Finished goods-ending inventory Sales Manufacturing overhead and direct labour incurred Gross profit percentage based on net sales $19,440 2,160 6,480 10,800 12,960 2,700 64,800 23,760 40 %

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To determine the amount of work in process WIP inventory that was transferred out to finished goods during January we need to do a bit of calculation ... View the full answer