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Under the average cost procedure, the formula for equivalent units of production for each cost element is Equivalent Production Beginning inventory x Percentage to complete)

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Under the average cost procedure, the formula for equivalent units of production for each cost element is Equivalent Production Beginning inventory x Percentage to complete) + Units started and completed this period + (Ending WIP inventory x Percentage complete), Units completed + (Units in ending WIP inventory x Percentage to complete). Units completed + (Units in ending WIP inventory x Percentage complete). O Beginning inventory x Percentage to complete) + Transferred out

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