Under which of the following conditions will the first-in, first-out method produce the same cost of goods manufactured as the weighted-average method?
A) There is no ending work in process inventory.
B) There is no beginning work in process inventory.
C) The beginning and ending work in process inventories are equal.
D) The beginning and ending work in process inventories are both 50% complete.

Question

Quizplus · Accepted Answer

When there is no beginning work in process inventory, both the FIFO and weighted-average methods will calculate the cost of goods manufactured based on the same set of costs, leading to the same result.

Under Which of the Following Conditions Will the First-In, First-Out