ved Matrix Inc. calculates cost for an equivalent unit of production using the weighted average method. Data for July Work-in-process inventory, July 1 (35,500 units): Direct materials (96% completed) Conversion (47% completed) Balance in work in process inventory, July 1 Units started during July Units completed and transferred Work-in-process inventory, July 31: Direct materials (96% completed) Conversion (47% completed) cost incurred during July: Direct materials Conversion costs $123,000 77,450 $ 200,450 86,500 96,800 25, 200 $186,000 266,500 The cost of goods completed and transferred out under the weighted average method is calculated to be (Round your Intermediate whole dollar amount.) Mote Choice