Graded homework Unit 7: Peerless Joint Replacements Inventory computation Peerle

Question

Graded homework Unit 7: Peerless Joint Replacements Inventory computation Peerless Joint Replacements tracks direct materials in inventory so they can identify the shipment lot if there were to be a problem with any of their products. At the end of October, the direct material cost of their Hip and Knee Value Stream inventory (Raw Materials, Work-inProcess and Finished Goods) was $516,800. During October, there were twenty working days and their Hip and Knee Value Stream had material costs of $609,400 and conversion costs of $848,300. At the end of October, the Hip and Knee Value Stream had raw material on hand equal to eight days of production, work-in-process equal to four days of production, and finished goods equal to five days of production. Create an Excel spreadsheet that computes and reports a value for endi

Explanation / Answer

We have Gone through the facts of the Question & we find the inventory cost at the end of the Month of $ 8,99,725/-

For your reference & perusal purposes we are giving the Break up details of the same:

STATEMENT SHOWING THE ENDING INVENTORY   COST : 1 Raw material Direct materail $2,43,760 $2,43,760 2 Work in Process Direct material $1,21,880 Conversion cost $1,69,660 $2,91,540 3 Finished Goods Direct material $1,52,350 Conversion cost $2,12,075 $3,64,425 Total Cost of Inventory $8,99,725

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