Longboard Company has a process costing system. All materials are introduced at the beginning of the process in Department One. The following information is available for the month of January:

	Units
Work in process, July 1 (40% complete for conversion)	490
Started	2,450
Completed and transferred to Department 2	2,350
Work in process, July 31 (60% complete for conversion)	590

What are the equivalent units for the month of July if the company uses the FIFO method?

Group of answer choices

Materials 2,940 and Conversion 2,450

Materials 2,940 and Conversion 2,508

Materials 2,940 and Conversion 2,704

Materials 2,450 and Conversion 2,508

Materials 2,450 and Conversion 2,704