Matrix Inc. calculates cost for an equivalent unit of production using the weighted-average method. Data for July: Work-in-process inventory, July 1 (36,000 units): Direct materials (100 % completed) Conversion (50% 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 (100% completed) Conversion (50% completed) Cost incurred during July: Direct materials Conversion costs $122,400 76,800 $199, 200 90,000 102,000 24,000 $180,000 288,000 The cost of goods completed and transferred out under the weighted average method is calculated to be: