Use This Information About Penny, Inc

Multiple Choice

Use this information about Penny, Inc. to answer the questions that follow.
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Penny, Inc. employs a process costing system. Direct materials are added at the beginning of the process. Here is information about the July activities:
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-Using the FIFO method and rounding cost per unit to the nearest whole dollar, the cost of goods completed and transferred out during July was

A) $227,270
B) $225,060
C) $236,905
D) $228,200