Gorski began operations on January 1 of the current year. The company uses a process-costing system, and conversion cost is incurred evenly throughout manufacturing. By January 31, the firm had completed 56,000 units. Which of the following statements could be true about the ending work-in-process inventory if equivalent units for the conversion costs totaled 59,000 units?
A. There is no ending work-in-process inventory
B. The ending work-in-process inventory totaled 3,000 physical units
C. The ending work-in-process inventory of 10,000 units was 30% complete
D. The ending work-in-process inventory of 20,000 physical units was 85% complete
Answer: C
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