The FIFO process-costing method merges the work and the costs of the beginning inventory with the work and the costs done during the current period.

Question

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The FIFO (First-In, First-Out) process-costing method separates the work and costs of the beginning inventory from the work and costs done during the current period, focusing on the costs added to the production process during the current period.

The FIFO Process-Costing Method Merges the Work and the Costs