Holly Company has the following information for December 1 to December 31 . All direct materials are 100% complete: Scess Completed 950 unlts and transferred to finlshed goods inventory 1218,656 Required: 1. Cakculate equivalent units using the weighted-average and FIFO methods. 2. Use the given information to determine whether Holly Compary is using the FiFO or weighted-average method. The beginning balance of Workin-Process (WIP) consisis of $34,647 of direct matetiats and $9,103 of conversion costs