How Is the Ending Balance in Work in Process Inventory

question 68

Multiple Choice

How is the ending balance in Work in Process Inventory calculated for a firm that uses the weighted average method of process costing?

• A)By multiplying the costs per equivalent unit by the number of equivalent units associated with ending Work in Process Inventory.
• B)By subtracting the cost of goods finished and the cost of goods sold from total manufacturing costs.
• C)By adding the costs of the jobs still in process at the end of the period.
• D)By dividing total manufacturing costs by total equivalent units.

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