Taxes r us (tru), an income tax preparation firm, uses the fifo method of process costing for its monthly reports. tru has no materials cost in the preparation of the returns. the following shows its march information: returns in process, march 1 (30% complete) 260 returns started in march 2,400 returns in process, march 31 (90% complete) 520 labor and overhead costs for returns in process, march 1 $ 6,500 labor and overhead costs incurred in march $ 328,900 required: calculate the following amounts for conversion costs using the fifo method: