Which of the Following Is True of the First-In, First-Out

Multiple Choice

Which of the following is true of the first-in, first-out costing method?

A) It calculates the equivalent units of output at the beginning of a reporting period.
B) It includes only prior-period work in determining the completed units of output.
C) It uses only current output to calculate the current-period unit cost.
D) It treats the work in beginning work-in-process as belonging to the current period.