Mullins Corporation Uses the First-In, First-Out Method in Its Process

Multiple Choice

Mullins Corporation uses the first-in, first-out method in its process costing system. Data concerning the first processing department for the most recent month are listed below: The cost of ending work in process inventory in the first processing department according to the company's cost system is closest to: (Round equivalent units to the nearest whole number and round all other intermediate calculations to 3 decimal places.)

A) $57,570
B) $52,950
C) $99,720
D) $66,981