Multiple Choice
In May, one of the processing departments at Lukman Corporation had beginning work in process inventory of $11,000. During the month, $120,000 of costs were added to production and the cost of units transferred out from the department was $94,000. The company uses the FIFO method in its process costing system.
-In the department's cost reconciliation report for May,the cost of ending work in process inventory would be:
A) $15,000
B) $63,000
C) $37,000
D) $26,000
Correct Answer:
Verified
Correct Answer:
Verified
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