Cherrington Company Uses a Process Costing System -Assuming That Cherrington Company Uses the FIFO Method,the Conversion Costs

Multiple Choice

Cherrington Company uses a process costing system. For May, the month just completed, the beginning work-in-process inventory consisted of 50,000 units that were 60% complete with respect to conversion costs. The ending inventory for the month was 20% complete with respect to conversion costs. A summary of cost data for the month follows:
$\begin{array} {| l | r | r | } \hline & \text { Units } & \text { Conversion costs } \\\hline \begin{array} { l } \text { Work in process inventory } \\\text { on May 1 }\end{array} & 50,000 & \$ 30,000 \\\hline \begin{array} { l } \text { Units started into } \\\text { production }\end{array} & 180,000 & \\\hline \begin{array} { l } \text { Conversion costs incurred } \\\text { during May }\end{array} & & \$ 690,000 \\\hline \begin{array} { l } \text { Units completed and } \\\text { transferred out during the } \\\text { month }\end{array} & 190,000 & \\\hline\end{array}$

-Assuming that Cherrington Company uses the FIFO method,the conversion costs for work in process ending inventory in May is closest to which of the following? (Round your intermediate answers two decimal places)

A) $34,480.
B) $27,920.
C) $32,880.
D) $34,320.