Under which of the following conditions will the FIFO method produce the same cost of goods manufactured as the weighted-average method?
A) There is no ending inventory.
B) There is no beginning inventory.
C) The beginning and ending inventories are equal.
D) The beginning and ending inventories are both 50% complete.

Question

Quizplus · Accepted Answer

When there is no beginning inventory, both FIFO and weighted-average methods will calculate the cost of goods manufactured based on the current period's costs, leading to the same result.

Under Which of the Following Conditions Will the FIFO Method