Question: Pierce & Company provides the following information concerning the work in process at its plant:
• Beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 60 percent complete).
• Started this month, 60,400 units.
• Transferred out, 50,100 units.
• Ending inventory, 19,900 units (materials are 100 percent complete; conversion costs are 17 percent complete).
a. Compute the equivalent units for materials using FIFO
b. Compute the equivalent units for conversion costs using FIFO.