Question: Assuming beginning work in process is zero, the equivalent units of production computed using FIFO versus weighted average will have the following relationship: 1. FIFO

Assuming beginning work in process is zero, the equivalent units of production computed using FIFO versus weighted average will have the following relationship:
1. FIFO equivalent units will be greater than weighted-average equivalent units.
2. FIFO equivalent units will be less than weighted-average equivalent units.
3. Weighted-average equivalent units are always greater than FIFO equivalent units.
4. Weighted-average equivalent units will be equal to FIFO equivalent units.

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