how to calculate beginning work in process inventory

How to calculate beginning work in process inventory involves determining the value of goods that are partially completed at the start of an accounting period. To calculate the beginning work in process inventory, you need to know the balance of partially finished goods from the previous period, including the cost of raw materials, labor, and overhead that have been applied to those items. This figure is important for determining the cost of goods manufactured (COGM) and the cost of goods sold (COGS) during the period. The formula generally is: Beginning Work in Process Inventory + Manufacturing Costs = Total Work in Process, which is then adjusted to account for the ending inventory.