Would it be correct to subtract the cost computed for EWIP from the total costs to account

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Would it be correct to subtract the cost computed for EWIP from the total costs to account for as a shortcut to determine the cost of goods transferred out? If you answered yes, is there a risk in doing this?
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Cost Accounting Traditions and Innovations

ISBN: 978-0324026450

4th edition

Authors: Barfield Jesse, Raiborn Cecily, Kinney Michael

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