Question: Longboard Company has a process costing system. All materials are introduced at the beginning of the process in Department One. The following information is available

Longboard Company has a process costing system. All materials are introduced at the beginning of the process in Department One. The following information is available for the month of January:

Units
Work in process, July 1 (40% complete for conversion) 400
Started 2,000
Completed and transferred to Department 2 1,900
Work in process, July 31 (60% complete for conversion) 500

What are the equivalent units for the month of July if the company uses the FIFO method?

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