Clean Corporation manufactures liquid window cleaner. The following information concerns its work in progress:

Beginning inventory, 12,000 (50% complete with respect to materials, and 30% complete with respect to conversion costs)

Transferred out, 63,000 gallons

Ending inventory (materials are 20% complete, conversion costs are 10% complete)

Started this month 72,000 gallons.

Objective: Complete the equivalents for both materials and conversion costs using FIFO