As it provides measurements of work completed during the current cycle, the FIFO method has a significant advantage over the Weighted-Average Method.
In contrast to Weighted-Average Method, which presupposes a firm sells all of its stocks at once, First-In-First-Out, or FIFO method, processes costing and moves out the costs in the beginning inventory before shifting out the expenses linked with units that were initiated and accomplished.
In reality, FIFO is basically the accounting technique that mainly relies on cost flow hypotheses that deduct costs from the inventory account when an item in the inventory has been acquired over time at a variety of costs.
Learn which items are the same in both methods when comparing the weighted-average and FIFO methods of process costing: https://brainly.com/question/17088181
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