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 61 percent complete). Started this month, 59,900 units. Transferred out, 50,100 units. Ending inventory, 19,600 units (materials are 100 percent complete; conversion costs are 14 percent complete). Required: a. Compute the equivalent units for materials using FIFO. b. Compute the equivalent units for conversion costs using FIFO. Answer is complete but not entirely correct. Equivalent Units Materials 69,700 X Conversion costs 52,844 a. b