Question: If the FIFO method were being used, how would the table of data on the preceding page differ? They would be the same because the
If the FIFO method were being used, how would the table of data on the preceding page differ? They would be the same because the difference between FIFO and weighted average is how the "cost per equivalent unit of production" is used, not how it is calculated Work that was completed last period in the beginning work-in-process would be deleted from the equivalent unit of production data, and costs incurred last period in beginning work-in-process would be deleted from the cost data There would be no equivalent unit of production related to beginning work-in-process, nor would there be any costs associated with beginning work-in-process included in the data Work to be completed in beginning work-in-process would be added to the equivalent unit of production data, and beginning work-in-process costs would be deleted from the cost data
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