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Pierce & Company provides the following information concerning the work in process at its plant: Beginning inventory was partially complete (materials are 100 percent complete;
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, 59,700 units.
Transferred out, 49,300 units.
Ending inventory, 20,900 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.
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