In applying the first-in, first-out method of costing inventories, if 8,000 units which are 30% completed are in process at June 1, 28,000 units are completed during June, and 4,000 units were 80% completed at June 30, the number of equivalent units of production for June was 28,600.

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The equivalent units of production for June should be calculated by considering the work done on the beginning inventory, the units started and completed during the month, and the work done on the ending inventory. The calculation provided does not accurately account for these factors.

In Applying the First-In, First-Out Method of Costing Inventories, If