The inventory costing method that is based on the assumption that costs should be charged against revenue
Question:
The inventory costing method that is based on the assumption that costs should be charged against revenue in the order in which they were incurred is:
a. FIFO.
b. LIFO.
c. weighted average cost.
d. perpetual inventory.
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a The FIFO method answer a is based on the assumption that costs are charged again...View the full answer
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Related Book For
Financial And Managerial Accounting
ISBN: 9781337902663
15th Edition
Authors: Carl S. Warren, Jefferson P. Jones, William B. Tayler
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