A company uses the weighted average method for inventory costing. At the start of a period the production department had 24,000 units in beginning Work in Process inventory which were 42% complete; the department completed and transferred 167,000 units. At the end of the period, 24,000 units were in the ending Work in Process inventory and are 77% complete. The production department had conversion costs in the beginning work in process inventory of $101,000 and total conversion costs added during the period are $726,875. Compute the conversion cost per equivalent unit.

$4.67.

$4.46.

$4.31.

$4.52.

$4.10.