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Matrix Inc. calculates cost for an equivalent unit of production using both the weighted-average and the FIFO methods.
	Data for July
	Work-in-process inventory, July 1 (37,700 units)
	Direct materials (100% completed)					$130,210
	Conversion (52% completed)					$82,180
	Balance in work in process inventory, July 1					$212,390
	Units started during July					96,000
	Units completed and transferred					108,000
	Work-in-process inventory, July 31
	Direct materials (100% completed)					25,700
	Conversion (53% completed)
	Cost incurred during July
	Direct materials					$188,000
	Conversion costs					$308,800
The cost of goods completed and transferred out under the weighted-average method is calculated to be:
$602,235
$605,235
$604,235
$606,235
$603,235