Transferred-in costs, FIFO method. Refer to the information in Problem 17-43. Suppose that Spelling Sports uses the FIFO method instead of the weighted-average method. Assume that all other information, including the cost of beginning WIP, is unchanged.
1. Using the FIFO process-costing method, complete Problem 17-43.
2. If you did Problem 17-43, explain any difference between the cost of work completed and transferred out and the cost of ending work in process in the stitching department under the weighted-average method and the FIFO method.