Fundamentals of Cost Accounting 2nd Edition by William Lanen, Carolyn Wells, Michael Maher

Exercise 35

Under which of the following conditions will the first-in, first-out (FIFO) method of process costing produce the same cost of goods manufactured as the weighted-average method
a. When goods produced are homogeneous.
b. When there is no beginning inventory.
c. When there is no ending inventory.
d. When beginning and ending inventories are each 50 percent complete.