In Which Circumstance Is the FIFO Method More Likely to Be

question 13

Multiple Choice

In which circumstance is the FIFO method more likely to be preferred in determining the costs of processing?

• A) there are regularly little work-in-process inventories on hand.
• B) there are never any work-in-process inventories on hand.
• C) there are regularly substantial work-in-process inventories on hand.
• D) staff in the accounting department lack expertise and experience in costing.

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