Question: Equivalent units for a process costing system using the FIFO method would be equal to:
a. units completed during the period, plus equivalent units in the ending work-in-process inventory.
b. units started and completed during the period, plus equivalent units in the ending work-in-process inventory.
c. units completed during the period and transferred out.
d. units started and completed during the period, plus equivalent units in the ending work-in-process inventory, plus work needed to complete units in the beginning work-in-process inventory.