For which process costing method is simplicity the main advantage?
A)LIFO
B)FIFO
C)weighted average
D)exact cost method

Question

Quizplus · Accepted Answer

Weighted average method is the process costing method where simplicity is the main advantage. It only requires calculation of average costs, which is easy and straightforward compared to LIFO or FIFO methods that require tracking individual units and their costs. Exact cost method is not a process costing method but rather a job costing method.

For Which Process Costing Method Is Simplicity the Main Advantage