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If percentage of completion in ending inventory is overestimated: the cost per equivalent is understated in this period. the cost per equivalent unit is overstated
If percentage of completion in ending inventory is overestimated: the cost per equivalent is understated in this period. the cost per equivalent unit is overstated in this period. the cost per equivalent unit is not affected in this period. understates the cost per equivalent unit in this period only if FIFO method is used
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College Accounting Chapters 1-13
Authors: John Price, M David Haddock, Michael Farina
13th Edition
007743062X, 9780077430627
