LU. T38 the following information for the month of December materials cost $14,000. All direct materials were one hundred percent complete, and Work in Process Inventory Completed 960 units and transferred them Beginning balance @ 121 $17000 to finished goods inventory 240 units, 10% completed Direct materials Direct labor Overhead Property taxes $168,000 65,000 41,000 7,000 38,000 22,000 Depreciation Utilities Indirect labor 5,000 Ending balance @12/31 360 units, 20% completed $27.000 Total equivalent units for conversion under the FIFO method are calculated to be: O 1110 equivalent units O 1,080 equivalent units O 1,032 equivalent units O 1008 equivalent units. O 1320 equivalent units