Matrix Inc. calculates cost for an equivalent unit of production using both the weighted-average and the FIFO methods.

Data for July:
Work-in-process inventory, July 1 (36,000 units):
Direct materials (100% completed)	$122,400
Conversion (50% completed)	76,800
Balance in work in process inventory, July 1	$199,200
Units started during July	90,000
Units completed and transferred	102,000
Work-in-process inventory, July 31:
Direct materials (100% completed)	24,000
Conversion (50% completed)
Cost incurred during July:
Direct materials	$180,000
Conversion costs	288,000

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

A.	126,000 equivalent units.

B.	114,000 equivalent units.

C.	90,000 equivalent units.

D.	102,000 equivalent units.

E.	96,000 equivalent units.