The Use of the FIFO Method Would Result in a Company's

question 107

Multiple Choice

The use of the FIFO method would result in a company's process cost report showing

• A) units transferred out as one amount with no distinction made for beginning inventory.
• B) units transferred out as two amounts: one for beginning inventory and the other for units started and completed during the month.
• C) units transferred out as two amounts: one for units completed during the period and one for ending inventory.
• D) units transferred out as three amounts: one for beginning inventory, one for units started and completed during the period, and one for ending inventory.