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QUESTION 38 Which of the following statements is true? a. Assuming perpetual method, LIFO ending inventory will be higher than that of when periodic method
QUESTION 38
- Which of the following statements is true?
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| a. | Assuming perpetual method, LIFO ending inventory will be higher than that of when periodic method is used. |
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| b. | Assuming periodic method, LIFO ending inventory under will be higher than that if perpetual method is used. |
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| c. | If either perpetual or periodic inventory method is used, FIFO ending inventory and cost of goods sold will be the same. |
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