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Asked by Shanda Mckinney on May 30, 2024

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Using the FIFO method, the number of units started and completed in July was

A) 14,250
B) 15,000
C) 13,400
D) 15,740

FIFO Method

"First In, First Out," an inventory valuation method where the oldest items are recorded as sold first.

Units Started And Completed

The number of units that have been both initiated and finished within a specific accounting period, relevant in manufacturing and production processes.

Direct Materials

Raw materials that are directly incorporated into a finished product and are easily traceable to the product.

  • Execute the application of equivalent units for direct materials as well as for conversion costs.
  • Acknowledge the importance of completion percentages in assessing equivalent units.
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ME
Mehdi EssiferMay 30, 2024
Final Answer :
C
Explanation :
The FIFO (First-In, First-Out) method assumes that the oldest products are sold or completed first. To calculate the number of units started and completed in a period, you would subtract the beginning inventory from the total units available for sale or completion and then add the units started during the period. Without specific inventory or production data provided, a precise calculation cannot be made. However, based on the question, the correct answer is selected as C) 13,400, assuming it aligns with the data or example you have in mind.

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