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Pick three concepts in the chapter “Process Cost Systems” that will be important for your classmates...

Pick three concepts in the chapter “Process Cost Systems” that will be important for your classmates to learn.

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Answer #1

Three important concepts in the process cost system

1.EQUIVALENT UNIT OF PRODUCTION

2.Calculation of closing stock in different method

3.Treatment of abnormal stock

These three concepts are important in process costing system

There are also other concepts which useful related to these

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