Equivalent units of production for a process costing system using the FIFO method are equal to:
A. Units transferred out + Equivalent units in ending work in process inventory + Equivalent units in beginning work in process inventory.
B. Units started and completed during the period + Equivalent units in the ending work in process inventory.
C. Units completed during the period and transferred out.
D. Units completed during the period + Equivalent units in the ending work in process inventory.
Answer: A
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