There are no units in ending work in process at the end of the period under the FIFO method.

Question

Quizplus · Accepted Answer

Under the FIFO method, the units in ending work in process are assumed to be the units that were started first and therefore have the lowest cost. These units have not yet been completed and transferred out of the process, so they are still partially completed products. As a result, there are units in ending work in process that need to be accounted for in the inventory valuation.

There Are No Units in Ending Work in Process at the End