Assuming that all direct materials are placed in process at the beginning of production and that the first-in, first-out method of inventory costing is used, what is the total cost of the departmental work in process inventory at the end of the period (round unit cost calculations to four decimal places)? a. $16,163. b. $21,432. c. $35,670. d ... On June 30, the inventory of work in process consisted of 4,600 units which were 40% completed. Inventories are costed by the first-in, first-out method and all materials are added at the beginning of the process.
It measures the cost of purchasing a market basket of goods and services by a typical household during a time period relative to the cost of the same bundle during a base year. 6. Demand-pull inflation is an increase in the general price level resulting from an increase in the cost of production.