Materials and conversion costs are added evenly throughout the production process. Beginning inventory amounted to...
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Accounting
Materials and conversion costs are added evenly throughout the production process. Beginning inventory amounted to 13,000 units. This period, 58,500 units were started and completed. At the end of the period, the 47,500 units in inventory were 50 percent complete. Using FIFO costing, the equivalent production for the period was 86,600 units. What was the percentage of completion of the beginning inventory?
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