Matrix Inc. calculates cost for an equivalent unit of production using the FIFO method.

Data for July:
Work-in-process inventory, July 1 (38,500 units):
Direct materials (95% completed)	$	122,650
Conversion (55% completed)		77,100
Balance in work in process inventory, July 1	$	199,750
Units started during July		92,500
Units completed and transferred		106,500
Work-in-process inventory, July 31:
Direct materials (95% completed)		24,500
Conversion (55% completed)
Cost incurred during July:
Direct materials	$	182,500
Conversion costs		290,500

Total equivalent units for conversion under the FIFO method are calculated to be: