Matrix Inc. calculates cost for an equivalent unit of production using the weighted-average method. Data for July: Work-in-process inventory, July (35,000 units): Direct materials (97% completed) $ 122,950 Conversion (46% completed) 77,400 Balance in work in process inventory, July 1 $ 200,350 Units started during July 86,000 Units completed and transferred 95,900 Work-in-process inventory, July 31: Direct materials (97% completed) 25,100 Conversion (46% completed) Cost incurred during July: Direct materials $185,500 Conversion costs 266,000 The cost of goods completed and transferred out under the weighted-average method is calculated to be: (Round your intermediate calculations to 2 decimal places and final answer to the nearest whole dollar amount.) Multiple Choice $102,946. $627,740. $553,343. $569,680. $578,840