The cost of insurance for a factory plant generally is a part of: Multiple Choice question - Example of Answer: C A major advantage of using the FIFO process-costing method is a) FIFO makes the unit cost calculations simpler. b) in contrast with the weighted-average method FIFO is considered GAAP. c) FIFO provides managers with information about changes in the costs per unit from one period to the next. d) all of the above are advantages of using FIFO