Which of the following is the last step of the 5-step process costing procedure?

Question

Quizplus · Accepted Answer

The last step of the 5-step process costing procedure is to assign total costs to units completed and to units in ending WIP inventory. This step involves calculating the unit cost for each process and allocating total costs to each unit based on the number of equivalent units completed or in ending WIP inventory. Once this step is complete, the cost of goods sold and inventory values can be determined.

Which of the Following Is the Last Step of the 5-Step