Richards Corporation uses the FIFO method of process costing. The following information is available for October in its Fabricating Department: Units: Beginning Inventory: 90,000 units, 70% complete as to materials and 20% complete as to conversion Units started and completed: 260,000. Units completed and transferred out: 350,000 Ending Inventory: 35,000 units, 40% complete as to materials and 15% complete as to conversion Costs: Costs in beginning Work in Process - Direct Materials: $47,200. Costs in beginning Work in Process - Conversion: $89,700 Costs incurred in October - Direct Materials: $759.920. Costs incurred in October - Conversion: $1,015,100. Calculate the cost per equivalent unit of conversion. Multiple Choice O $262 looo $3.28 53.01