Which of the Following Is Used to Calculate the Number

question 69

Multiple Choice

Which of the following is used to calculate the number of units to account for under the first-in,first-out (FIFO) method of inventory valuation of process costing? This is the second department in a company using process costing.

• A) To account for = Beginning balance + Started and completed + In process
• B) To account for = Beginning balance + Amount transferred in
• C) To account for = Beginning balance + In process
• D) To account for = Beginning balance + Started and completed

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