The last step in a process-costing system is to determine the equivalent units for the period.

Name: The last step in a process-costing system is to determine the equivalent units for the period.
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The last step in a process-costing system is to assign the costs to completed units and to units in ending work in process, not just to determine the equivalent units for the period. Determining the equivalent units is an earlier step necessary for the cost assignment process.

The Last Step in a Process-Costing System Is to Determine