Process Costing:

1. The equivalent units transferred out cannot exceed the equivalent units of work done in the period. (T/F)

2. The equivalent units in ending inventory cannot exceed the sum of the equivalent units in the beginning inventory and the equivalent units of work done in the period. (T/F)

3. When using process costing, the number of physical units transferred out will always equal the number of equivalent units transferred out. (T/F)