Select all that apply Determine which of the following statements are correct regarding the difference between physical flow and the cost flow of inventory. (Check all that apply.) A business may adopt any cost flow assumption when accounting for perishable items. Perishable items usually have an actual physical flow of FIFO. Perishable items have an actual physical flow of LIFO. Cost flow is an assumption about which goods/items are sold. Physical flow refers to the actual movement of goods.

Select all that apply Determine which of the following statements are correct regarding the difference between phyical flow and the cost fiow of inventory (Check all that apply) A business may odopt any cost flow assumption when accounting for perishable ifems. Petishable items usually have an actual physical fiow of FIFO. Perishable items have an actual physical fiow of LFO Cost fiow is on assumption about which goodsitems are sold Physical fow refers to the actual movement of goods