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cost flow is in the order in which costs were incurred when using a.first-in, first-out b.weighted average cost c.first-in, last-out d.last-in, first-out

Respuesta :

When utilizing first-in, first-out accounting, cost flow represents the order in which costs were incurred.

What does cost accounting's first-in, first-out method entail?

According to the accounting principle known as first in, first out (FIFO), assets that are bought or acquired first are also the first to be sold. According to FIFO, the inventory still on hand is made up of products that were bought last. LIFO is an accounting technique that differs from FIFO in that assets that were acquired or purchased most recently are sold first.

Which occurs first in the cost flow?

The evaluation of the raw materials used in manufacturing is the first step in the flow of expenses. The cost flow subsequently shifts to the inventory of work-in-progress. The price of the personnel and equipment used in production, as well as any overhead charges, are added.

Learn more about first in, first out (FIFO): https://brainly.com/question/28506750

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