Save Answer Question 9 7 points 1- Margo Inc uses the FIFO method in its process costing system. The first processing department, the Welding Department, started the month with 22,000 units in its beginning work in process inventory that were 20% complete with respect to conversion costs. The conversion cost in this beginning work in process inventory was $24,200. An additional 106,000 units were started into production during the month. There were 21,000 units in the ending work in process inventory of the Welding Department that were 90% complete with respect to conversion costs. A total of S585,900 in conversion costs were incurred in the department during the month. What would be the equivalent units of production for conversion costs? 91,500 121.500 111,500 101,500 Save Answe Question 10 5 points The cost of an asset, purchased January 1st of Year 1, is $10,000,000, and its residual value is $100,000. Estimated useful life of the asset is four years. The company uses the double-declining-balance method of accounting If the asset is sold on December 31, Year 2 for $2,000,000, what will be the gain or loss? Loss - S 500,000 Gain - S 4,400,000 Gain - S 500,000 So gain or loss