The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31
Inventories Raw materials $48,000 $62,000
Work in process 11,200 23,300
Finished goods 68,000 45,600
Activities and information for May Raw materials purchases (paid with cash) 220,000
Factory payroll (paid with cash) 365,000
Factory overhead Indirect materials 25,000
Indirect labor 90,000
Other overhead costs 130,000
Sales (received in cash) 1,500,000
Predetermined overhead rate based on direct labor cost 80%
Determine whether there is over or underapplied overhead.

Inventory by three methods; cost of goods sold the units of an item available for sale during the year were as follows: jan. 1 inventory 20 units at $1,800 may 15 purchase 31 units at $1,950 aug. 7 purchase 13 units at $2,040 nov. 20 purchase 16 units at $2,100 there are 18 units of the item in the physical inventory at december 31. determine the cost of ending inventory and the cost of goods sold by three methods, presenting your answers in the following form: round your final answers to the nearest dollar. cost inventory method ending inventory cost of goods sold a. first-in, first-out method $ $ b. last-in, first-out method $ $ c. weighted average cost method $ $