Any one

3. Al Naseem Corporation uses the FIFO method in its process costing system. The following data concern the operations of the company's first processing department for the month of February: Percentage of Completion Units Direct Materials Conversion Costs Work-in-process beg, February 1 500 70% 30% Started during February 5.500 Units Completed and Transferred out 3,800 Work-in-process end, February 30 20% 60% Required: a. Explain three differences between weighted average and FIFO method. (3 marks) b. Determine the number of equivalent units of production for materials and conversion