Which inventory costing method assigns to Cost of Goods Sold the most recent purchases incurred during the period?

A.Weighted-average

B.Last-in, first-out (LIFO)

C. First-in, first-out (FIFO)

D. Specific identification

Which of the following is not a component of internal control?

A. Environment

B. Information system

C. Risk assessment

D. Audits