Averaging the Total Cost of Completed Beginning Work-In-Process Inventory and Units

question 210

Multiple Choice

Averaging the total cost of completed beginning work-in-process inventory and units started and completed over all units transferred out is known as

• A)strict FIFO.
• B)modified FIFO.
• C)weighted average costing.
• D)normal costing.

---

Definitions:

Time Value

The concept that money available at the present time is worth more than the same amount in the future due to its potential earning capacity.