In a process costing system, products flow in a LIFO manner, from department to department.

Name: In a process costing system, products flow in a LIFO manner, from department to department.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Products flow in a FIFO manner, not LIFO, in a process costing system. This means that products move from one department to the next in the order they were brought in, with the first units in being the first units out.

In a Process Costing System, Products Flow in a LIFO