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Darya [45]
4 years ago
13

Which of the following statements regarding first-in, first-out (FIFO) process costing is/are true?(A) First-in, first-out (FIFO

) process costing transfers out the costs in beginning inventory before transferring out the costs associated with units started and completed.(B) First-in, first-out process costing requires one additional step in assigning costs to the units transferred out and the ending Work-in-Process Inventory. A. A only.B. B only.C. Both A and B.D. Neither A nor B.
Business
1 answer:
Sveta_85 [38]4 years ago
6 0

Answer: The correct answer is "A. A only".

Explanation: First-in, first-out (FIFO) process costing first transfers out the costs in beginning inventory because the oldest units are the first to leave (First in - First out).

And it does not require an additional step in cost allocation to units transferred out and the final Work-in-Process inventory.

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Anna71 [15]

Answer:

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3 years ago
Carlotta Rodriguez purchased six bushes for $19.27 each, a porch swing for $88.22, and a gas grill for $321.77. She must pay the
puteri [66]
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4 years ago
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Why are certain crime losses, such as the theft of furs and jewelry, a more difficult exposure to insure than fire loss?
a_sh-v [17]

Answer:

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3 years ago
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yarga [219]

Answer:

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3 years ago
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uysha [10]

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