Under the FIFO method of product costing,equivalent units of production consider units in the beginning inventory as if they were started and completed during the current period.

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Under the FIFO method, units in the beginning inventory are not considered as if they were started and completed during the current period. Instead, they are typically assumed to have been completed in a prior period and therefore do not require any additional production costs in the current period. Equivalent units of production are only calculated for units that were started and partially or fully completed during the current period.

Under the FIFO Method of Product Costing,equivalent Units of Production