Question: Process Costing and Long-Term Contracts A plant controller observed that, There is no reason to get excited about the choice between FIFO and weighted-average process

Process Costing and Long-Term Contracts

A plant controller observed that, "There is no reason to get excited about the choice between FIFO and weighted-average process costing. I have long-term contracts with my materials suppliers at fixed prices." Do you agree? Why or why not? Explain in detail.

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