Axis Ltd uses process costing. The following information was available for the current year:

Number of units in beginning work-in-process inventory 4000 (30% complete)

Number of units started in the current period 35 000

Number of units in ending work-in-process inventory 3000 (80% complete)

If Axis uses the weighted-average method, how many total equivalent units were completed in the current period?

1. 37 400 equivalent units
2. 39 000 equivalent units
3. 38 800 equivalent units
4. 38 400 equivalent units