Which of the following statements regarding joint cost allocation is not true?
A)The sales value of the end products is the most common method used to allocate joint costs.
B)Inventory cost and cost of goods sold computations for internal reporting purposes require joint cost allocation.
C)Inventory cost and cost of goods sold computations for external reporting purposes require joint cost allocation.
D)Joint cost allocation is unnecessary in deciding to sell or process further beyond the split-off point.

Question

Quizplus · Accepted Answer

The Answer of Which of the following statements regarding joint cost allocation is not true?
A)The sales value of the end products is the most common method used to allocate joint costs.
B)Inventory cost and cost of goods sold computations for internal reporting purposes require joint cost allocation.
C)Inventory cost and cost of goods sold computations for external reporting purposes require joint cost allocation.
D)Joint cost allocation is unnecessary in deciding to sell or process further beyond the split-off point.

Which of the Following Statements Regarding Joint Cost Allocation Is