Measurement (end of the year): At the end of the year, some companies choose to adjust the balances of Inventory and the Cost of Goods Sold to report LIFO amounts. This inventory method:

Measurement (end of the year): At the end of the year, same companies choose to adfust the balances of inventory and the Cost of Goods Sold to report LFO amounts. This inventory method: Muitiple Choice heports the actual units remoining in inventory as ending inventory. Assumes the last units purchased are the first units sold. Assumes the firt units pirchased are the first unas sold. Muitiple cholce Asports the ectual units remaining in inventory as ending inventory. Assumes the last unts purchased are the first units sold. Assumes the first units purchased are the first units soid. Reports the actual units sold as cost of goods sold. Measurement (end of the year): At the end of the year, some companies choose to adjust the balances of inventory and the Cost of Goods: Sold to report LFO amounts. This inventory method