In process costing, equivalent units are the same under both the weighted average method and the FIFO method.

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Quizplus · Accepted Answer

In process costing, equivalent units can differ between the weighted average method and the FIFO method because the weighted average method combines units and costs from the current and previous periods, while the FIFO method only considers work done and costs incurred in the current period.

In Process Costing, Equivalent Units Are the Same Under Both