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Question 2: Proficient : What is the cost flow assumption? What is meant by the physical flow of goods? Whatrelationshipexistsbetweencostflowsandthephysicalflowofgoodsinacompany? Distinguished : To place the

Question 2:

  • Proficient:
  • What is the cost flow assumption?
  • What is meant by the physical flow of goods?
  • Whatrelationshipexistsbetweencostflowsandthephysicalflowofgoodsinacompany?
  • Distinguished:
  • To place the proper valuation on inventory, a business must determine which costs should be included in inventory cost. Getting goods ready to sell should include what items?

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