In May, one of the processing departments at Lukman Corporation had beginning work in process inventory of $11,000. During the month, $120,000 of costs were added to production and the cost of units transferred out from the department was $94,000. The company uses the FIFO method in its process costing system.
-In the department's cost reconciliation report for May,the total cost to be accounted for would be:
A)$48,000
B)$251,000
C)$262,000
D)$131,000

Question

Quizplus · Accepted Answer

FIFO method
 11eaa48f_7bd9_a129_9e4a_11362e876415_TB2485_00

In May, One of the Processing Departments at Lukman Corporation