The weighted-average method of process costing is simpler than the FIFO method.

Name: The weighted-average method of process costing is simpler than the FIFO method.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The weighted-average method simplifies the calculation by averaging the costs of units processed during the current period with the costs of beginning work in process units. In contrast, the FIFO method requires tracking and valuing each unit separately, which can be more complex and time-consuming.

The Weighted-Average Method of Process Costing Is Simpler Than the FIFO