The equivalent units in the ending work in process inventory will be the same under both the FIFO and the weighted-average methods of process costing.

Question

Quizplus · Accepted Answer

This statement is true. The equivalent units in the ending work in process inventory are calculated based on the work done during the current period, which should be the same regardless of the method used. Both methods use the same data to calculate the equivalent units, so the answer should be the same.

The Equivalent Units in the Ending Work in Process Inventory