Exercise 8-21 Compute Equivalent Units: FIFO Method (LO 8-1, 5) Pierce & 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, 60,100 units Transferred out, 50,900 units. Ending inventory, 19,600 units (materials are 100 percent complete; conversion costs are 13 percent complete) Required: a. Compute the equivalent units for materials using FIFO Equivalent units b. Compute the equivalent units for conversion costs using FIFO. Equivalent units