Which two methods are used to determine equivalent units of production in process costing?
A) exact costing and LIFO costing method
B) FIFO costing method and LIFO costing method
C) weighted average costing method and exact costing
D) weighted average costing method and FIFO costing method

Question

Quizplus · Accepted Answer

The two methods used to determine equivalent units of production in process costing are the weighted average costing method and the FIFO costing method. Exact costing and LIFO costing method are not used for determining equivalent units of production.

Which Two Methods Are Used to Determine Equivalent Units of Production