An assumption of the FIFO process-costing method is that

ACCOUNTING

Multiple Choice

An assumption of the FIFO process-costing method is that

a. the units in beginning inventory are not necessarily assumed to be completed by the end of the period.

b. the units in beginning inventory are assumed to be completed first.

c. ending inventory will always be completed in the next accounting period.

d. no calculation of conversion costs is possible.

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