The total cost of the goods that are in the ending inventory will be $49980.
<h3>How to calculate the ending inventory</h3>
<u>Reconciliation of accounts</u>
Beginning work in progress = $12400
Started into production = $48800
Less: Closing work in progress = $11900
Units completed = $49300
<u>Calculation of equivalent units</u>
Units completed = $49300
Ending WIP inventory = 11900 × 60% = $7140
Total conversion cost = $56440
Total material = 49300 + 11900 = 61200
<u>Cost per equivalent units</u>
Material = $183600/61200 = $3.00
Conversion cost = $112880/56440 = $2.00
<u>Calculation of cost of ending inventory</u>
Material = 11900 × $3 = $35700
Conversion cost = 7140 × $2 = $14280
Total cost of ending inventory = $49980
In conclusion, the total cost of ending inventory is $49980.
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