1. Which of the following statements is true?
   1. The cost per equivalent unit for conversion costs will always be the same under both the FIFO and the weighted-average methods if there is no beginning work in process inventory.
   2. The cost per equivalent unit under the FIFO method of process costing is equal to the cost added during the period divided by the equivalent units of production for the period.
      1. Statement 1 is true.
      2. Statement 2 is true.
      3. Both statements are true.
      4. Neither statement is true.