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Can we use WIP process feature in LIFO (or) FIFO costing methods?

edited Aug 21, 2025 10:52AM in Ask A Guru 8 comments

Hi,

Good day! Can anyone say that In this WIP process must use Standard (or) Average costing methods. we want use FIFO costing method.

Is it Possible to use FIFO costing method for manufacturing work in process (WIP)?

Please share your expertise.

Thank you!

Regards,

Farid.

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