If a Company Has No Ending Work in Process Inventory

question 66

True/False

If a company has no ending work in process inventory, it does not need to use the 5-step process costing procedure to determine the cost of making one unit.

---

Definitions:

Antitrust Cases

Legal disputes that arise when government entities investigate and challenge business practices that threaten to monopolize a market or restrict competition.

Price-fixing

An illegal agreement among competitors to set prices at a certain level, preventing competition and harming consumers.

Industrial Regulation

Policies and laws enforced by government agencies to regulate industries in order to promote fair competition and protect consumers.

Antitrust Policy

Government regulations designed to promote competition and prevent monopolies, mergers, or cartels that harm consumers.