Question
The inventory allocation method that assigns the most recent costs to ending inventory and the oldest costs to cost of goods sold is the ______.
The inventory allocation method that assigns the most recent costs to ending inventory and the oldest costs to cost of goods sold is the ______.
A. specific identification method
B. LIFO method
C. moving-average method
D. FIFO method
The inventory allocation method that assigns the most recent costs to ending inventory and the oldest costs to cost of goods sold is the ______.
A. specific identification method
B. LIFO method
C. moving-average method
D. FIFO method
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Answer B LIFO method The inventory allocation method that as...
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Intermediate Accounting
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
1st edition
978-0133251579, 133251578, 013216230X, 978-0134102313, 134102312, 978-0132162302
