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

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

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

User Ysak
by
9.0k points

1 Answer

4 votes
The answer is a. LIFO
User Blubberbo
by
8.0k points
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