Lights Incorporated calculates cost for an equivalent unit of production using the FIFO method. Data for July: Work-in-process inventory, July 1 (35,500 units): Direct materials (96% completed) Conversion (47% completed) Balance in work in process inventory, July 1 Units started during July Units completed and transferred Work-in-process inventory, July 31: Direct materials (96% completed) Conversion (47% completed) Cost incurred during July: Direct materials Conversion costs $ 123,000 77, 450 $ 200, 450 86,500 96,800 25, 200 $ 186,000 266,500 Total equivalent units for conversion under the FIFO method are calculated to be