Wiremold tracks the direct materials in inventory. At the end of their most recent month, the direct material cost of their inventory (raw materials, work-in-process, and finished goods) was $603,210. During the most recent month, their value streams had material costs of $920,000 and conversion costs of $552,000 in twenty working days. At the end of the month, Wiremold had raw material on hand equal to seven days worth of production, work-in-process equal to two days worth of production, and finished goods equal to eight days worth of production.

The value for ending inventory using the material cost plus days of conversion cost method is?

Answer rating: 100% (QA)

Step 1 Raw material inventory 920000 x 720 322000 WIP raw material 92... View the full answer