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Severn Company Uses the FIFO Method in Its Process Costing

Question 3

Multiple Choice

Severn Company uses the FIFO method in its process costing system.The following data were taken from the accounting records of the company for last month: Severn Company uses the FIFO method in its process costing system.The following data were taken from the accounting records of the company for last month: The cost of the units in the ending Work in Process inventory is: A) $17,000 B) $20,000 C) $10,000 D) $22,500 The cost of the units in the ending Work in Process inventory is:


A) $17,000
B) $20,000
C) $10,000
D) $22,500

Correct Answer:

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