Which of the following describes the distinctive characteristic of FIFO computations in assigning costs to units completed and to units in ending work in process? Standard costs are assigned first to complete beginning work-in process inventory, nest started and completed new units, and finally to start new units that are in ending work in process inventory Calculate equivalent unit cost of all the work done to date and assigns this cost to equivalent units completed and transferred out of the process, and to equivalent units in ending work in-process inventory Assigns the cost of the previous accounting periods equivalent units in beginning work-in process inventory to the first units complete and transferred out of the process and assigns the cost of equivalent units work on during the current period new units, and finally to units in ending work in process inventory None of the above