Category: Bookkeeping

I explained, above, FIFO’s Step #3 using what’s called the subtractive method. I told you to subtract the beginning WIP equivalent units from the total units completed so we could apply the rates to the equivalent units completed using this period’s work. The FIFO version of the total equivalent units equation starts from the weighted […]

I explained, above, FIFO’s Step #3 using what’s called the subtractive method. I told you to subtract the beginning WIP equivalent units from the total units completed so we could apply the rates to the equivalent units completed using this period’s work. The FIFO version of the total equivalent units equation starts from the weighted […]