Which of the following statements is true of process costing?

[humphriesbr@me.com]

Which of the following statements is true of process costing?
◦ In the period of rising prices, weighted-average process-costing method will result in higher operating income as compared to FIFO process-costing method.
◦ The operating income and the income tax liability of a company are not affected by the method of process-costing being followed by the company.
◦ In the period of rising prices, weighted-average process-costing method will result in lower cost of goods sold as compared to FIFO process-costing method.
◦ In a period of falling prices, weighted-average process-costing method will result in a higher income tax liability as compared to FIFO process-costing method.

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[humphriesbr@me.com]

Thanks for the timely response, appreciate it

[jamesnevil303]

Gracias!