Moulgadi Corporation Uses the FIFO Method in Its Process Costing

question 16

Multiple Choice

Moulgadi Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.
-The cost of ending work in process inventory in the first processing department according to the company's cost system is closest to:

• A) $95,523
• B) $56,031
• C) $52,538
• D) $62,090

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Definitions:

Poor

Refers to the state of having insufficient financial resources or wealth.

Food

Nutritive material consumed by living organisms to sustain life and growth.

Malthusian Trap

A theory suggesting that population growth tends to outpace agricultural production, leading to periodic starvation, poverty, and population decline.

Poor

Describes individuals or groups who lack financial resources or essentials for a minimum standard of living.