Instruction: Answer the 1. A company uses the FIFO method to account for its work in process inventories. The account records show the following Information: Beginning work in process inventory Materials Conversion costs Debits to work in process inventory this period Materials Conversion costs Beginning inventory - 360.00 180.00 3,714.00 2,258.00 Units: 300 Percent of completion (materials - 60%, conversion cost - 30%) Started this period Ending inventory Requirements: Percent of completion (materials -40%, conversion cost -20%) Compute for the following 1. Equivalent units for materials and conversion costs 2,000 600 2. Unit costs for materials and conversion costs. 3. Cost of goods transferred out 4. Cost of ending inventory