Exercise 8-21 (Algo) Compute Equivalent Units: FIFO Method (LO 8-1,5) Plerce \& Company provides the following information concerning the work in process at its plant: - Beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 62 percent complete). - Started this month, 59,700 units. - Transferred out, 49,500 units. - Ending inventory, 20,600 units (materials are 100 percent complete; conversion costs are 16 percent complete). Required: a. Compute the equivalent units for materials using FIFO. b. Compute the equivalent units for conversion costs using FIFO