QUESTION 3 Overboard Corporation uses the FIFO method in its process costing system. In the Cutting Departmetu units were 80% complete with respect to conversion in the beginning work in process inventory and 25% complete june, with respect to conversion in the ending work in process inventory. Other data for the department for June follow Conversion Units Cost Beginning work in process inventory 26,000 $ 49,000 Units started into production, and costs incurred during the 257,00 month 170,000 Units completed and transferred out 150,000 The cost per equivalent unit for conversion cost is closest to $1.83 $1.78 $1.25 $1.31 O