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Which of the following statements about the FIFO method is FALSE? a) It is necessary o determine the completion level of the beginning WIP inventory.
Which of the following statements about the FIFO method is FALSE?
a) It is necessary o determine the completion level of the beginning WIP inventory.
b) Total costs to be accounted for include beginning WIP costs and current period costs.
c) Costs per equivalent unit contain costs in the beginning WIP inventory and costs added during the current period.
d) The equivalent units of production relate only to work done during the current period.
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