Pierce & Company provides the following information concerning the work in process at its plant: Beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 60 percent complete). Started this month, 60,900 units. Transferred out, 50,200 units. Ending inventory, 20,500 units (materials are 100 percent complete; conversion costs are 16 percent complete). Required: a. Compute the equivalent units for materials using FIFO. b. Compute the equivalent units for conversion costs using FIFO. Equivalent Units a. Materials b. Conversion costs