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Levart [38]
3 years ago
8

Banks and other lending institutions​ ________.

Business
1 answer:
Cloud [144]3 years ago
8 0
THE BEST ANSWER IS D
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In November, one of the processing departments at Goodsell Corporation had beginning work in process inventory of $36,000 and en
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c) $463,000

Explanation:

<u> Goodsell Corporation </u>

<u>FIFO Method </u>

<u></u>

Current Costs

Costs Added                  $ 427,000

<u>Add Beginning Work in Process Inventory  $36,000</u>

<u>Total Current Cost                                      $ 463,000</u>

Cost Transferred Out                   $ 428,000

<u> Add Ending Work in Process Inventory  $35,000</u>

<u>Total Current Cost                                      $ 463,000</u>

FIFO assigns the current period costs to the inventories. Current period costs are obtained by adding the costs transferred out and ending inventories costs  or beginning costs and costs added.

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A company just starting business made the following four inventory purchases in June:June 1 150 units $ 390 June 10 200 units 58
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