Which of the following statements regarding the perpetual LIFO inventory costing method is true? a. Costs are included in the cost of goods sold in the order in which units were purchased. b. The cost of the units sold is the cost of the most recent purchases. c. The LIFO inventory costing method must be used with the weighted average cost method. d. Unit costs for each item are averaged each time a purchase is made.

Which of the following statements regarding the perpetual LIFO inventory costing method is true? a. Costs are included in the cost of goods sold in the order in which units were purchased. b. The cost of the units sold is the cost of the most recent purchases. c. The LIFO inventory costing method must be used with the weighted average cost method. d. Unit costs for each item are averaged each time a purchase is made