1) Work in process inventory 2) Unit materials cost 3) Unit conversion cost 4) Total cost of units transferred out 5) The cost of work in process inventory The ledger of Sheridan Company has the following work in process inventory account: Production records show that there were 380 units in the beginning inventory, 35% complete, 1,240 units started into production, and 1,240 units completed and transferred out. The beginning work in process inventory had materials costs of $2.130 and conversion costs of $1,500. The units in ending inventory were 40% complete as to conversion costs. Materials are entered at the beginning of the painting process, and conversion costs are incurred uniformly throughout the process
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