Which of the four inventory approaches transfers the most recent purchase cost to the cost of goods sold and the remaining items in inventory are valued at the oldest acquisition costs?
A. FIFO
B. Specific identification
C. Average cost
D. LIFO

Question

16-07-2024
Business

Answered

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Which of the four inventory approaches transfers the most recent purchase cost to the cost of goods sold and the remaining items in inventory are valued at the oldest acquisition costs?
A. FIFO
B. Specific identification
C. Average cost
D. LIFO

Sagot :

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Which of the four inventory approaches transfers the most recent purchase cost to the cost of goods sold and the remaining items in inventory are valued at the oldest acquisition costs? A. FIFOB. Specific identificationC. Average cost D. LIFO

Sagot :

Other Questions

Which of the four inventory approaches transfers the most recent purchase cost to the cost of goods sold and the remaining items in inventory are valued at the oldest acquisition costs?
A. FIFO
B. Specific identification
C. Average cost
D. LIFO