When using the FIFO method of process costing, the cost per equivalent unit is calculated by current period costs / equivalent units for work performed this period.

Question

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In the FIFO method of process costing, the cost per equivalent unit is calculated by dividing the costs incurred during the current period by the equivalent units of production completed during the current period, excluding work done on units from previous periods.

When Using the FIFO Method of Process Costing, the Cost