An Assumption of the FIFO Process-Costing Method Is That

question 90

Multiple Choice

An assumption of the FIFO process-costing method is that:

• A)the units in beginning inventory are assumed to be completed first.
• B)the units in beginning inventory are not necessarily assumed to be completed by the end of the period.
• C)ending inventory will always be completed in the next accounting period.
• D)no calculation of conversion costs is possible.

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Definitions:

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