FIFO versus Weighted Average Method - with nonuniform inputs Total equivalent units of direct material Total equivalent units of conversion Units completed & transferred out during June Weighted Average 60,000 52,000 50,000 FIFO 40,000 44,000 50,000 The cost data for June were as follows: Work in process 1 June: Direct Material $188,000 Conversion $88,800 Costs incurred during June: Direct Material $328,000 Conversion $545,600 There were 20,000 units in process in the cutting department on 1 June (100% complete as to direct materials and 40% complete as to conversion). 1. Using the Weighted Average method, calculate the: a. Cost of goods completed and transferred out of the cutting department during June. b. Cost of the 30 June work in process inventory. 2. Using the FIFO method, calculate the: a. Cost of goods completed and transferred out of the cutting department during June. b. Cost of the 30 June work in process inventory. Which method provides a more accurate unit cost for a period