1.A cost of production report will normally list costs in greater detail to help management isolate problems and opportunities. True False 2.If a material is introduced halfway through processing and the beginning inventory is 40% complete, then the equivalent units for beginning inventory for this material for the current period will be zero (assuming fifo). True False 3.The first-in, first-out cost method is based on the assumption that the work in process at the beginning of the current period was started and completed during the current period. True False 4.If the work in process at the beginning of the period is 400 gallons, 1,600 gallons were started during the period, and 300 gallons remained in process at the end of the period, then the units started and completed are 1,700 gallons. True or false