If a company has ending Work In Process Inventory it must use the 3-step process costing procedure to determine the cost of making one unit.

Question

Quizplus · Accepted Answer

The presence of ending Work In Process Inventory does not mandate the use of a 3-step process costing procedure; companies can use various costing methods (e.g., job order costing, process costing with different steps) depending on their production process and accounting practices.

If a Company Has Ending Work in Process Inventory It