q4

Which one of the following inventory valuation statements are correct? of Select one: a. FIFO assumes that the most recently purchased inventory is sold last b. Actual cost of goods sold rarely match the cost of goods sold reported under the FIFO or weighted average methods c. The specific identification method is commonly used in grocery stores d. When prices are rising, weighted average cost will report a lower ending inventory than FIFO e. Weighted average is commonly used to account for customized or easily identifiable products