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:

First Occurrence

Refers to the initial appearance or instance of a particular element or condition within a dataset or sequence.

String.h

A header file in the C standard library that contains declarations for string handling functions.