In the cost reconciliation report under the FIFO method, the costs accounted for equals the cost of beginning work in process inventory plus the costs added during the period.

Under the FIFO method, the costs accounted for in the cost reconciliation report include the costs of the beginning work in process inventory, the costs added during the period, and the costs of the beginning inventory completed during the period. The beginning inventory costs are separated to accurately reflect the flow of costs under FIFO.