At the end of an accounting period, the costs assigned to a production department can be split into the cost of units fully completed and transferred, and the cost of units partially completed and remaining in the Work-in-Process Inventory of that department.

Question

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This statement is true. At the end of an accounting period, the costs assigned to a production department can be split into the cost of units fully completed and transferred, and the cost of units partially completed and remaining in the Work-in-Process Inventory of that department.

At the End of an Accounting Period, the Costs Assigned