Eban Corporation uses the first-in, first-out method in its process costing system. The first processing department, the Welding Department, started the month with 19,800 units in its beginning work in process inventory that were 50% complete with respect to conversion costs. The conversion cost in this beginning work in process inventory was $58,200. An additional 61,000 units were started into production during the month. There were 17,200 units in the ending work in process inventory of the Welding Department that were 20% complete with respect to conversion costs. A total of $296,160 in conversion costs were incurred in the department during the month. The cost per equivalent unit for conversion costs is closest to: Multiple Choice $5.74 $5.18 $4.55 $5.11