Exercise 8-23 (Static) Compute Equivalent Units: FIFO Method (LO 8-1, 5) Patton Dyes manufactures colorings, primarily for textiles Information on the work in process flows Beginning inventory 15,000 partially complete ters Ending inventory, 85.000 then units are 25 percent complete with respect to materials and 60 percent complete with respect h conversion costs Started this month, 690.000 ters Assume that beginning inventory is 20 percent complete with respect to materials and 40 percent complete with respect to conversion costs Required: Compute the equivalent units for materials using FIFO b. Compute the equivalent units for conversion costs using FIFO Unite