Assume a company uses the FIFO method in its process costing. Its Work in Process T-account for the Refining Department for August is: August i balance Work in Process Refining Department 62,000 Completed and transferred to Pinished Goudm 495,000 72,000 181,000 Materials Direct Labor Overhead August 31 balance The August 1 work in process inventory consisted of 6,000 units with $40,000 in materials cost and $22,000 in conversion cost. The August 1 work in process inventory was 100% complete with respect to materials and 40% complete with respect to conversion. During August 48,000 units were started into production. The August 31 work in process inventory consisted of 8,000 units that were 100% with respect to materials and 50% complete with respect to conversion What is the conversion cost in the ending work in process inventory? Multiple Chalce $28,404 $25,104 $27404 $22,104