Question 1
The first-in, first-out process-costing method assumes that the earliest equivalent units in work in process are completed first.
◦ true
◦ false
Question 2
The weighted average method of process costing assigns the cost of equivalent units worked on during the
current period first to complete beginning inventory, next to start and complete new units, and finally to units in ending work-in-process inventory.
◦ true
◦ false