2 Exercise 8-19 (Algo) Compute Equivalent Units: FIFO Method (LO 8-1,5) 5 points Conion Chemicals manufactures paint thinner Information on the work in process follows: Beginning inventory, M1,000 portially complete gallons Transferred out, 213,000 gallons Ending inventory (materials are 19 percent complete conversion costs are 9 percent complete). Started this month, 241,000 gallons > Assume that beginning inventory is 50 percent complete with respect to materials and 29 percent complete with respect to conversion costs Required: .. Compute the equivalent units for materials using FIFO b. Compute the equivalent units for conversion costs using FIFO Answer is complete but not entirely correct. Equivalent Units (gations Materiais 205,610 Conversion costs 190.100