FIFO costing and Weighted average costing-transferred out
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If costs increase from one period to another, will costs that are transferred out of one department under the first in first out (FIFO) method of costing be higher or lower than costs that are transferred out using weighted average method of costing? Why?
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This solution compares the use of the fists in first out (FIFO) costing method to the weighted average costing method.
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If the costs increase from one period to another, the costs transferred out to other department under the weighted average cost method will be higher as compared to the first in first ...
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