The weighted average cost per unit and the FIFO cost per unit will be identical if there is no beginning work in process inventory.

Question

Quizplus · Accepted Answer

If there is no beginning work in process inventory, then the only costs that are included in the weighted average cost per unit and the FIFO cost per unit are the costs incurred during the current period. Since the same costs are included in both calculations, the weighted average cost per unit and the FIFO cost per unit will be identical.

The Weighted Average Cost Per Unit and the FIFO Cost