In the cost reconciliation report under the FIFO method, the costs to be accounted for equals the cost of ending work in process inventory plus the cost of units transferred out.

Question

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In the FIFO method, the costs to be accounted for include the cost of beginning work in process inventory, the cost of units started and completed, and the cost of ending work in process inventory.

In the Cost Reconciliation Report Under the FIFO Method, the Costs