Which of the Following Statements Is True Regarding the FIFO

question 36

Multiple Choice

Which of the following statements is true regarding the FIFO method of process costing?

• A) It assumes that the units in beginning inventory were finished last during the current period.
• B) It assumes that the units in beginning inventory were started in the current period.
• C) It assumes that the units in beginning inventory were finished first during the current period.
• D) It assumes that the units in beginning inventory were the same percentage complete as the ending inventory units.

---

Definitions:

Respiratory Difficulties

Any condition or symptom that leads to problems with breathing, including diseases of the airways and lungs.

Cushing Syndrome

A condition caused by prolonged exposure to high levels of cortisol, leading to symptoms such as weight gain, thinning skin, and high blood pressure.

Cervical Hump

An accumulation of fat at the base of the neck, often a sign of conditions such as Cushing's syndrome or a result of prolonged poor posture.

Moon Face

A round and full facial appearance, typically resulting from steroid treatment or conditions like Cushing's syndrome.