Required information Exercise 8-43 & 8-44 (Algo) (LO 8-5) [The following information applies to the questions displayed below.] Annin Laboratories uses the FIFO method to account for its work-in-process inventories. The accounting records show the following information for February: Beginning WIP inventory Direct materials $ 25,553 Conversion costs 8 , 305 Current period costs Direct materials 152 , 872 Conversion costs 77 , 600 Quantity information is obtained from the manufacturing records and includes the following: Beginning inventory 6,000 units (408 complete as to materials, 158 complete as to conversion) Current period units started 45, 000 units Ending inventory 21,000 units (758 complete as to materials, 35% complete as to conversion) Exercise 8-44 (Algo) Assign Costs to Goods Transferred Out and Ending Inventory: FIFO Method (LO 8- 5) Compute the cost of goods transferred out and the ending inventory for February using the FIFO method. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar.2,812 Conversion costs 77 , 600 Quantity information is obtained from the manufacturing records and includes the following: Beginning inventory 6, 000 units (40% complete as to materials, 15% complete as to conversion) Current period units started 45 , 000 units Ending inventory 21, 000 units (75% complete as to materials, 35% complete as to conversion) Exercise 8-44 (Algo) Assign Costs to Goods Transferred Out and Ending Inventory: FIFO Method (LO 8- 5) Compute the cost of goods transferred out and the ending inventory for February using the FIFO method. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar. Cost of goods transferred out Cost of ending inventoryCompute the cost per equivalent unit for direct materials and for conversion costs for February using the FIFO method. (Round your answers to 2 decimal places.) Cost Per Equivalent Unit Direct materials 3.53 Conversion costs $ 2.13