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The following data relate to a process for last month:
Opening inventory 200 units (70% complete)
Completed output 2450 units
Closing inventory 300 units (40% complete)
Using the fifo method, what were the equivalent units of production last month?
Sir coming back to this question, if it would’ve said using weighted avg method instead of fifo, correct me if I’m wrong
Answer would be 2570? We just calculate closing inv and add it? Or we are going to deduct closing inv?
Sir I can’t reply to my previous post on this same question that’s why created another
2,570 would be correct.
(You certainly would not subtract the closing WIP – some work was done on the WIP!)
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