4. The Bottling Department of Mountain Springs Water Company had 5,000 litres in beginning work in process inventory (20% complete). During the period, 58,000 litres were completed. The ending work in process inventory was 3,000 litres (90% complete). What are the equivalent units for conversion costs under the FIFO method? ANS: Whole Units Equivalent Units Inventory in process, beginning of period Started and completed during the period Transferred out of Bottling (completed) Inventory in process, end of period I Total units to be assigned costs