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Annin Laboratories uses the FIFO method to account for its work-in-process inventories. The accounting records...

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Accounting

Annin Laboratories uses the FIFO method to account for its work-in-process inventories. The accounting records show the following information for February:
Beginning WIP inventory
Direct materials $ 28,553
Conversion costs 9,205
Current period costs
Direct materials 173,272
Conversion costs 89,540
Quantity information is obtained from the manufacturing records and includes the following:
Beginning inventory 6,000 units (40% complete as to materials, 15% complete as to conversion)
Current period units started 45,600 units
Ending inventory 27,000 units (75% complete as to materials, 35% complete as to conversion)
Exercise 8-44(Algo) Assign Costs to Goods Transferred Out and Ending Inventory: FIFO Method (LO 8-5)
Compute the cost of goods transferred out and the ending inventory for February using the FIFO method.
Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar.

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