Which of the following methods can be used to account for the costs and work of beginning work in process?
A)weighted average method and LIFO
B)FIFO method and sequential processing method
C)sequential processing method and LIFO
D)weighted average method and FIFO method

Question

Quizplus · Accepted Answer

The weighted average method and the FIFO (first-in-first-out) method can both be used to account for the costs and work of beginning work in process. The sequential processing method and LIFO (last-in-first-out) are not relevant to accounting for beginning work in process. Therefore, the best choice(s) are D.

Which of the Following Methods Can Be Used to Account