The following data has been provided by Klemm Inc., a company that uses the FIFO method in its process costing system. The data concern the company's Shaping Department for the month of March. 
Required:
Determine the cost of ending work in process inventory and the cost of the units transferred out of the department during March using the FIFO method.
Definitions:
Fama And French
Fama and French are economists Eugene Fama and Kenneth French, known for their work on asset pricing models, including the three-factor model that considers market, size, and value factors in portfolio returns.
Regression Coefficient
A number that represents the relationship between a dependent variable and an independent variable in statistical models, indicating the strength and direction of the correlation.
Single Factor Model
A financial model that describes an asset's returns as dependent on a single market index or factor.
Fama-French Three Factor Model
The Fama-French Three Factor Model expands on the Capital Asset Pricing Model by incorporating three factors: market risk, size risk, and value risk, to explain stock returns.
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