18-28 FIFO method, equivalent units. (LO 4) Refer to the information in Exercise 18-26. Suppose the assembly division at Fenton Watches Inc. uses the FIFO method of process costing instead of the weighted average method. Required Compute equivalent units for direct materials and conversion costs. Show physical units in the first column of your schedule. Check Figure: Direct materials equivalent units, 460 18-29 FIFO method, assigning costs (continuation of Exercise 18-28). (LO 4) Required For the data in Exercise 18-26, use the FIFO method to summarize total costs to account for, calculate cost per equivalent unit for direct materials and conversion costs, and assign total costs to units completed (and transferred out) and to units in ending work-in-process. Check Figure: Total cost of work-in-process, ending, $613,895