For process costing, costs are assigned to completed units transferred out and units ending WIP inventory using a four step process. What are the four steps in order?

1. Summarize the costs to be accounted for
2. Calculate the cost per equivalent unit
3. Summarize the physical flow of units and compute the equivalent units for direct material, direct labor, and overhead.
4. Use the cost per equivalent unit to assign costs to completed units transferred out and unit in ending WIP inventory.