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Thanks I think I got it now.
hi can someone explain how comes when we calculated the equivalent units for opening WIP we did 400*70% = 280 but for closing WIP we did 600*60% = 360 as opposed to 600*40% the remaining equivalent units to be completed?
@maxwellbenn, Because we are accounting for the work done during this month.
This month we finished the WIP brought forward, and we started the WIP carried forward.
Thanks a lot
This example is the best description of FIFO and AVCO method.
so much help ….thanks
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