Question

Medina Corp. had the following information available for the year:

Beginning inventory of goods in process (40% complete, $2,500)- 340 units
Ending inventory of goods in process (80% complete)- 680 units
Total units started during the year- 8,800 units

The number of units transferred to finished goods during the year is:

Answer 1

The number of units transferred to finished goods during the year is 8,120 units.

Step-by-step explanation:

To calculate the number of units transferred to finished goods during the year, we need to subtract the units in ending inventory from the total units started. The beginning inventory is not relevant for this calculation.

Total units started = 8,800 units

Ending inventory = 680 units

Units transferred to finished goods = Total units started - Ending inventory = 8,800 - 680 = 8,120 units