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Work-in-Process Inventory, June 1?Work-in-Process Inventory, June 3055,000 gallonsUnits started during June75,000 gallonsUnits completed and transferred during June83,000 gallons

Question

 

Work-in-Process Inventory, June 1

?

Work-in-Process Inventory, June 30

55,000 gallons

Units started during June

75,000 gallons

Units completed and transferred during June

83,000 gallons

check_circleAnswer
Step 1

Beginning Work-in-process inventory:

 Beginning Work-in-process inventory represents partially finished inventory, which are available at the beginning of the period for further process or for subsequent sales.

Step 2

Calculate the work-in-process inventor...

(Beginning work-in-process inventory +
Units started during June-
= Units completed
Ending work-in-process inventory
(Beginning work-in-process inventory +
= 83,0000
75,000-55,000
Beginning work-in-process inventory = 83,000+55, 000 -75,000
Beginning work-in-process inventory 63, 000
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(Beginning work-in-process inventory + Units started during June- = Units completed Ending work-in-process inventory (Beginning work-in-process inventory + = 83,0000 75,000-55,000 Beginning work-in-process inventory = 83,000+55, 000 -75,000 Beginning work-in-process inventory 63, 000

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