Strap Company uses the weighted-average method in its process costing system. The Company has only one processing department. The ending work in process consists of 10,000 units, 60% complete with respect to materials. The total dollar v of ending inventory is $38,000. The costs per equivalent unit are $5.00 for materials and $4.00 for conversion costs for the period. With respect to conversion costs, what is the percentage completion in ending work in process inventory? [HINT: use the third step in process costing analysis to set up your solution) inventory alue