Questions:
• Under the weighted-average method of process costing, costs from the prior period are averaged with those of the current period in computing unit costs.
• In a process costing production report, the "Cost to be accounted for" will be the same whether the weighted-average or the FIFO method is used.
• Under the FIFO method of product costing, equivalent units of production consider units in the beginning inventory as if they were started and completed during the current period.