Exercise 8-21 (Algo) Compute Equivalent Units: FIFO Method (LO 8-1, 5) Pierce & Company provides the following information concerning the work in process at its plant: Beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 61 percent complete). Started this month, 60,700 units. Transferred out, 49,500 units. Ending inventory, 21,600 units (materials are 100 percent complete: conversion costs are 15 percent complete). . Required: a. Compute the equivalent units for materials using FIFO. b. Compute the equivalent units for conversion costs using FIFO. Equivalent Units a. Materials b Conversion costs