The Matsui Lubricants plant uses the weighted-average method to account for its work-in-process inventories. The accounting records show the following information for a particular day. Beginning WIP inventory Direct materials $976. Conversion costs 272 Current period costs Direct materials 11,440 Conversion costs 6,644 Quantity information is obtained from the manufacturing records and includes the following. Required Beginning inventory Current period units started Ending inventory 600 units (60% complete as to materials, 53% complete as to conversion) 4,000 units 1,200 units (40% complete as to materials. 20% complete as to conversion) Compute the cost per equivalent unit for direct materials and conversion costs. 8-35/36 8-35. Compute Costs per Equivalent Unit: FIFO Method (LO 8-5) Using the data in Exercise 8-33, compute the cost per equivalent unit for direct materials and for conversion costs using the FIFO method. 8-36. Assign Costs to Goods Transferred Out and Ending Inventory: FIFO Method (LO 8-5) Refer to the data in Exercises 8-33 and 8-35. Compute the cost of goods transferred out and the ending inventory using the FIFO method.