Use this information about Penny, Inc. to answer the question that follows. Penny, [nc., employs a process cost system and uses the FIFO cost ow method. Direct materials are added at the beginning of the process. Here '13 information about the July activities: On July 1: Beginning inventories 850 units, 60% complete Direct materials cost $5,000 Conversion costs $4,000 During July: Number of units started 15,000 Direct materials added $155,000 Conversion costs added $83,520 On July 31: Ending inventories 1,600 units, 40% complete The conversion equivalent units of production for July are 0 a. 14,380 0 b. 14,400 0 c. 15,350 0 d. 14,550