Requirement $3.$ Explain any difference between the cost of work completed and transferred out and the cost of ending work in process in the stitching department under the$$ weighted$-$average method and the FIFO method.

The FIFO work in process ending inventory is

higher

than the$$ weighted$-$average work in process ending inventory. This is because FIFO assumes that all the

$$

$$

in work in process are the first to be completed and transferred out while ending work in process consists of only the

$$

$$