Jolly company uses the fifo method in its process costing, Financial Accounting

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Jolly company uses the fifo method in its process costing

Jolly Company uses the FIFO method in its process costing system. Beginning stock in the mixing processing centre consisted of 4,000 units, 75% complete with respect to conversion costs. Ending work in process stock consisted of 3,000 units, 60% complete with respect to conversion costs. If 12,000 units were transferred to the next processing centre during the period, the equivalent units for conversion costs would be:

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Financial Accounting: Jolly company uses the fifo method in its process costing

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