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Which cost flow assumption assumes that the first units purchased are the first units sold? a. LIFO b. FIFO c. Specific identification d. Weighted average cost
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40 votes
40 votes
Which cost flow assumption assumes that the first units purchased are the first units sold?

a. LIFO
b. FIFO
c. Specific identification
d. Weighted average cost

User Grimdrem
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1 Answer

13 votes
13 votes
The answer is b. FIFO
User Darleen
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