=+5-33 KK FIFO method, assigning costs (continuation of 5-32) For the data in Exercise 5-30, use the
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=+5-33 KK FIFO method, assigning costs (continuation of 5-32)
For the data in Exercise 5-30, use the FIFO method to summarise total costs to account for, calculate cost per equivalent unit for direct materials and conversion costs and assign total costs to units completed (and transferred out) and to units in ending work in process.
What can you infer if the cost of units completed and transferred out, and in ending work-in-process inventory, are the same when using the weighted average and FIFO methods.
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Related Book For
Cost Accounting A Managerial Emphasis
ISBN: 9781442563377
2nd Edition
Authors: Monte Wynder, Madhav V. Rajan, Srikant M. Datar, Charles T. Horngren, William Maguire, Rebecca Tan
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