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The Bottling Department of Mountain Springs Water Company had 5,000 liters in beginning work in process inventory (20% complete). During the period, 58,000 liters were completed. The ending work in process inventory was 3,000 liters (90% complete). All inventories are costed by the first-in, first-out method. What are the equivalent units for conversion costs under the FIFO method

Respuesta :

Zviko

Answer:

59,700 units

Explanation:

Equivalent units

Only focus on the work done during the production period when using FIFO.

Conversion costs = 5,000 x 80 % + 53,000 x 100% + 3,000 x 90 %

                             = 59,700 units

the equivalent units for conversion costs under the FIFO method are 59,700 units.

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