Under the First-In,first-Out (FIFO)method,the Cost of Equivalent Units of Production

question 61

Multiple Choice

Under the first-in,first-out (FIFO) method,the cost of equivalent units of production is calculated by ________.

• A) summing up only the transferred in costs of each department
• B) combining beginning inventory costs with current period costs
• C) considering only the transferred out costs of each department
• D) accounting for beginning inventory costs separately from current period costs

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