Exercise 8-33 & 8-34 (LO 8-5) The Matsui Lubricants plant uses the FIFO method to account for its work-in-process inventories. The accounting records show the following information for a partici Beginning WIP Inventory Direct materials Converslon costs $ 976 272 Current perlod costs Direct materials Conversion costs 11,440 .644 Quantity information is obtained from the manufacturing records and Includes the following Beginning Inventory i00 units (60% complete as to materials. 53% complete as to conversion) Current period units started Ending inventory 4000 units 1,200 units (40% complete as to materials 20% complete as to conversion) Section Break