Question: Use the information in Exercise 36 and assume that Lamb Inc. uses the FIFO method of process costing. For the Assembly Department, compute the following:

Use the information in Exercise 36 and assume that Lamb Inc. uses the FIFO method of process costing. For the Assembly Department, compute the following:

a. equivalent units of production for each cost component

b. cost per EUP for each cost component

c. cost transferred to Finished Goods Inventory

d. cost of ending WIP Inventory

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