Last-In, Fist-Out (LIFO) Method is:

Group of answer choices

A method of ass signing costs to inventory that identifies the cost of each specific item purchases and sold.

A method that assumes the first good purchased are the first goods sold.

A method that assumes the most recently purchases units are sold first.

A method that uses the weighted-average of the cost of goods available for sale for both the cost of each item sol and those remaining in inventory.

19.NSF (Non-Sufficient Funds) Checks are checks that are written for an amount greater than the funds available to cover them.

Group of answer choices

True

False