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 which 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:
-Using the FIFO method, the cost per equivalent unit of conversion cost for May is closest to:
A) $5.65
B) $5.83
C) $6.00
D) $6.20
Correct Answer:
Verified
Correct Answer:
Verified
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