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: 992 407 Beginning WIP inventory Direct materials Conversion costs Current period costs Direct materials Conversion costs 17,710 12,702 Quantity information is obtained from the manufacturing records and includes the following: Beginning inventory Current period units started Ending inventory 900 units (60% complete as to materials, 60% complete as to conversion) 4,900 units 1,100 units (40% complete as to materials, 20% complete as to conversion) Required: (1) Compute the equivalent units for the materials and conversion cost calculations. Equivalent units for materials Equivalent units for conversion costs (2) Compute the cost per equivalent unit for direct materials and for conversion costs using the FIFO method. (Round your answers to 2 decimal places.) Cost Per Equivalent Unit Direct materials Conversion costs 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