Which of the following steps are part of the firstin, firstout (FIFO) processcosting method?

A. assignment of costs of the current period's equivalent units to the first units completed and transferred out of the process

B.assumes as part of its first step that there is no beginning workinprocess

C. assumes as part of its first step that the most recently worked on units are completed and transferred out first

D. assignment of costs of the previous period's equivalent units in beginning workinprocess inventory to the first units completed and transferred out of the process