The last step of the 5-step process costing procedure is to assign total costs to units completed and to units in ending Work In Process Inventory.

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This is correct. The last step in the 5-step process costing procedure is to assign total costs to units completed and to units in ending Work In Process Inventory. This is done in order to determine the total cost of goods manufactured and to calculate the cost per unit.

The Last Step of the 5-Step Process Costing Procedure Is