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Bellevue Chemicals had beginning work-in-process inventory of $251,250 on March 1. Of this amount, $102,200 was the cost of direct materials and $149,050 was the cost of conversion. The 24,240 units in the beginning inventory were 45 percent complete with respect to direct materials and 65 percent complete with respect to conversion costs.

During March, 58,360 units were transferred out and 15,200 remained in ending inventory. The units in ending inventory were 70 percent complete with respect to direct materials and 15 percent complete with respect to conversion costs. Costs incurred during March amounted to $919,000 for direct materials and $1,033,430 for conversion.

Required:

1. Compute the equivalent units for the materials and conversion cost calculations.
2. Compute the cost per equivalent unit for direct materials and for conversion costs for March using the FIFO method.
   1. Compute the cost of goods transferred out and the cost of ending inventory for March using the FIFO method.
   2. Is the ending inventory higher or lower under the weighted-average method compared to FIFO?