Frogs Inc, makes scuba gear from plastic. They have only one process center, Molding. Selected data regarding the molding department during the month of Aug. follow: Production Data: Units in Progress Aug. 1st, 80% complete as to materials, and 30% complete as to conversion 44,000 Units started into production in Aug: 17,000 Units in progress August 31st, materials 70% complete, conversion 20% complete 32,000 Cost data: Work in progress inventory Aug. 1st: Materials Cost $197,200. Conversion Cost $42,300 Costs added during Aug: Materials Cost $820,620 Conversion Cost $254,040 Using the FIFO process costing method: Compute the number of units transferred out of the molding department, the equivalent units of production fit August for both DM and CC, the cost per equivalent unit fit both DM and CC, and the total unit product cost. What is the cost of goods transferred out of molding? What is the cost of ending inventory? Show appropriate calculations to justify your response.