Jensen Corporation The following information is available for Jensen Corporation for the current month: Started this month 80000 units
Beginning WIP 40% complete 7500 units
Normal spoilage (discrete) 1100 units
Abnormal spoilage 900 units
Ending WIP
70% complete 13000 units
Transferred out 72500 units
Beginning WIP costs
Material $10400
Conversion 13800
Current costs:
Material $120000
Conversion 350000
All materials are added at the start of production and the inspection point is at the end of the process. Refer to Jensen Corporation. What is the cost assigned to ending inventory using FIFO? Select one: a. $75,920 b. $53,144 c. $58,994