An Assumption of the FIFO Process-Costing Method Is That ________

question 94

Multiple Choice

An assumption of the FIFO process-costing method is that ________.

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

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