X Company has a process costing system. All materials are introduced at the beginning of the process in Department One. The following information is available for the month of January: Units Work in process, July 1 (40% complete for conversion) 480 Started Completed and transferred to Department 2 2,400 2,300 Work in process, July 31 (60% complete for conversion) 580 What are the equivalent units for the month of July if the company uses the FIFO method? Materials 2,880 and Conversion 2,456 Materials 2,400 and Conversion 2,456 O Materials 2,880 and Conversion 2,400 Materials 2,880 and Conversion 2,648