In Calculating the Cost Per Equivalent Unit Using FIFO Costing

question 104

True/False

In calculating the cost per equivalent unit using FIFO costing, the appropriate formula is current period costs / equivalent units for work performed this period.

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Definitions:

Random Access Files

Files that allow data to be read or written in any order, not necessarily sequentially.

Current Position

Refers to the immediate location in a data stream or file where the next read or write will occur.

Ftell()

A function in many programming languages that returns the current position in a file.

Random Access Files

Files that allow data to be read or written in any order, as opposed to sequential access where data is read in order.