The Matsui Lubricants plant uses the FIFO method to account for its work-in-process inventories. The accounting records show the following information for a particular day Beginning WIP inventory 980 Direct materials Conversion costs Current perlod costs 287 1,285 7.287 Direct materials Conversion costs Quantity information is obtained from the manufacturing records and includes the following Beginning inventory 500 units (60% complete as to materials, 56% complete as to conversion) 4100 units Current period units started 1,000 units (40% complete as to materials, 15% complete as to conversion) Compute the cost of goods transferred out and the ending inventory using the FIFO method. (Do not round intermediate calculations.) Cost of goods transferred out Cost of ending inventory