8-47. FIFO Method The following information is available from the Oils Division of Glasgow Corporation for December. Conversion costs for this division were 80 percent complete as to beginning work-in- process inventory and 50 percent complete as to ending work-in-process inventory. Information about conversion costs follows: (LO 8-5) Conversion Units Costs WIP at December 1 (80% complete) . . . . . . . . . . . . . . . . . . . . . . . 20,000 $ 232,200 Units started and costs incurred during December. . . . . . . . . . . . . 108,000 1,306,800 Units completed and transferred to next department during December 80,000 ? The Oils Division uses FIFO. Required a. What was the conversion cost of work-in-process inventory in the Oils Division at December 31? b. What were the conversion costs per equivalent unit produced last period and this period, respectively?