In the cost reconciliation report under the FIFO method,the costs accounted for equals the cost of beginning work in process inventory plus the costs added during the period.

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Under the FIFO method, the costs accounted for in the cost reconciliation report equal the costs of the beginning work in process inventory plus the costs added during the period minus the costs associated with the beginning inventory, as FIFO assumes the first units in are the first units out, focusing only on the costs added during the current period for units started and completed.

In the Cost Reconciliation Report Under the FIFO Method,the Costs