Under the FIFO method, it is assumed that the beginning work in process is completed before new work is started.

Name: Under the FIFO method, it is assumed that the beginning work in process is completed before new work is started.
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Quizplus · Accepted Answer

FIFO (First-In-First-Out) method assumes that the first unit of inventory to enter the production process is the first to be completed and sold, therefore, the beginning work in process must be completed before new work is started.

Under the FIFO Method, It Is Assumed That the Beginning