Production costs during the current period are kept separate from that of the previous period in the:
A) FIFO method
B) Job costing method
C) Just-in-time method
D) Weighted average method

Question

Quizplus · Accepted Answer

The FIFO (First-In, First-Out) method keeps production costs separate by assuming that the oldest inventory costs are used up first, thus maintaining a distinction between costs from different periods.

Production Costs During the Current Period Are Kept Separate from That