?

Managerial Accounting

Free Version

Upgrade subject to access all content

Easy

Assumption of FIFO costing process costing

MGRACT-J7FTX5

An assumption of the FIFO process costing method is that:

A

Units in the beginning inventory may or may not be completed during the period.

B

Units in the beginning inventory are assumed to be completed during last period.

C

Units at the beginning inventory are assumed to be completed before units started during the period.

D

Units in ending inventory will be completed in the current accounting period.