Homework Answers
Step-1, The calculation of the Beginning inventory costs
The Beginning inventory costs = Equivalent units for direct materials x Cost per equivalent unit for direct materials
= 22,000 units x $4.00 per unit
= $88,000
Step-2, The calculation of the Current Costs
Here, the Beginning inventory costs were 10% of current cost
Therefore, the Current cost = $88,000 x [100/110]
= $80,000
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