(Appendix 4A) Malmedy Corporation uses the FIFO method in its process costing system. The following data pertain to operations in the first processing department for a recent month:

-How many units were in the beginning work in process inventory?
A) 600 units
B) 1,000 units
C) 800 units
D) 1,400 units

Question

(Appendix 4A) Malmedy Corporation uses the FIFO method in its process costing system. The following data pertain to operations in the first processing department for a recent month:
 
-How many units were in the beginning work in process inventory?
A) 600 units 
B) 1,000 units 
C) 800 units 
D) 1,400 units

Quizplus · Accepted Answer

Units in beginning work in process inventory + Units started into production or transferred in = Units in ending work in process inventory + Units completed and transferred out
Units in beginning work in process inventory + 25,200 = 2,000 + 24,000
Units in beginning work in process inventory = 2,000 + 24,000 − 25,200 = 800

(Appendix 4A) Malmedy Corporation Uses the FIFO Method in Its