Recall that the weighted average method assumes that BWIP units are started an

Recall that the weighted average method assumes that BWIP units are started and completed during the current period. Because of this assumption BWIP costs
were included in the cost per equivalent unit. Therefore costs transferred out (to Finished Goods) are calculated by multiplying the units started and
completed (step 2) times the weighted average cost per equivalent unit (step 3).

The FIFO method requires the BWIP equivalent units to be added to the units started and completed to determine the units transferred out (step 2). These units
are multiplied times the FIFO cost per equivalent unit (step 3). This amount is added to the costs in BWIP to determine the costs transferred out (to Finished
Goods). If required round the cost per equivalent unit amounts to the nearest cent.

APPLY THE CONCEPTS: Step 4
Valuation of Inventories for May