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Beginning Inventory Consisted of 1,000 Units with Costs of $21,000

Question 64

Multiple Choice

Beginning inventory consisted of 1,000 units with costs of $21,000.All materials and 60 percent of labor and overhead were added in the prior period.In addition, another 8,000 units were started and completed.Unit costs are materials, $6.00; labor, $15.00; overhead, $9.00.What is the total cost of goods transferred out using FIFO?


A) $240,000
B) $270,000
C) $262,200
D) $270,600

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