Using the FIFO Method,the Equivalent Unit Cost of Materials Is

question 65

Multiple Choice

Using the FIFO method,the equivalent unit cost of materials is? Round your answers to the nearest whole cent)

• A) $4.76.
• B) $5.40.
• C) $5.52.
• D) $6.40.

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Definitions:

Technology

The application of scientific knowledge for practical purposes, especially in industry, which drives innovation, efficiency, and productivity improvements.

Supply

Supply is the total amount of a good or service available for purchase at any given price level in a given market.

Equilibrium Price

The price at which the quantity of goods supplied is equal to the quantity of goods demanded.

Demand

How much of a service or product buyers intend and are financially able to acquire at various price intervals during a designated period.