Which of the following statements about the weighted average and FIFO methods is true?
A) Equivalent units of production cannot be the same under the two methods.
B) Equivalent units of production under FIFO are always greater than or equal to equivalent units of production under the weighted average method.
C) Equivalent units of production under FIFO will equal equivalent units of production under the weighted average method only when there are no units in ending inventory.
D) Equivalent units of production for ending inventory units are the same under the two methods.

Question

Quizplus · Accepted Answer

Equivalent units of production for ending inventory units are the same under the two methods because both methods assign the same number of equivalent units to the ending inventory units.

Which of the Following Statements About the Weighted Average and FIFO