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Which of the following statements about the FIFO method is false? CHocies It is necessary to check the completion level of the beginning WIP inventory.
Which of the following statements about the FIFO method is false?
CHocies
It is necessary to check the completion level of the beginning WIP inventory.
The equivalent units of production relate only to work done during the current period.
To compute the cost-per-equivalent-unit, beginning WIP costs and costs added during the current period need to be combined together.
Total costs to be accounted for include beginning WIP costs and current period costs.
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