Under the average method of process costing, costs from previous periods and the current period are combined into a single pool.

Name: Under the average method of process costing, costs from previous periods and the current period are combined into a single pool.
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In the average method of process costing, costs from both previous periods and the current period are combined to calculate a single average cost per unit, which is then used to value units completed and units in process.

Under the Average Method of Process Costing, Costs from Previous