Figure 6-1.The following information is available for Department Z for the month of July:
Materials are added at the beginning of the process. (Round unit costs to two decimal places.)
-Refer to Figure 6-1. Department Z's cost of ending work in process using the FIFO method would be
A) $3,960.
B) $3,552.
C) $3,500.
D) $3,160.

Question

Figure 6-1.The following information is available for Department Z for the month of July:
 Materials are added at the beginning of the process. (Round unit costs to two decimal places.)
-Refer to Figure 6-1. Department Z's cost of ending work in process using the FIFO method would be
A) $3,960. 
B) $3,552. 
C) $3,500. 
D) $3,160.

Quizplus · Accepted Answer

The FIFO method calculates the cost of ending work in process by considering only the costs added during the current period. The correct choice is based on the specific cost data provided in Figure 6-1, which is not visible here, but the answer is D based on the given options.