Problem 8-69 (Algo) Solving for Unknowns: FIFO Method (LO 8-4, 5) For each of the following independent cases, use FIFO costing to determine the information requested. Required: a. At the start of the period, 7,000 units were in the work-in-process inventory; 5,340 units were in the ending inventory. During the period, 16,625 units were transferred out to the next department. Materials and conversion costs are added evenly throughout the production process. FIFO costing is used. How many units were started during this period? b. During May, 229,000 units were completed and transferred out to finished goods inventory. The current cost per equivalent unit for work done in May for conversion costs was $1.60. The conversion costs assigned to units started and completed in May was $288,000. How many physical units were in work-in-process inventory on May 1? c. Materials and conversion costs are added evenly throughout the production process. Beginning inventory amounted to 13,000 units. This period, 58,500 units were started and completed. At the end of the period, the 43,500 units in inventory were 50 percent complete. Using FIFO costing, the equivalent production for the period was 85,000 units. What was the percentage of completion of the beginning inventory? d. The ending inventory included $33,500 for conversion costs. During the period, 21,900 equivalent units were required to complete the beginning inventory, and 39,000 units were started and completed. The ending inventory represented 5,000 equivalent units of work this period. FIFO costing is used. What were the total conversion costs incurred this period?