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

My account
Edit my Profile
Private messages
My favorites

Ask a Question
Questions
Unanswered
Tags
Categories
Ask a Question

asked Aug 10, 2023 173k views

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

Business
college

Ysak asked

by Ysak

9.0k points

0 Comments

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

4 votes

The answer is a. LIFO

Blubberbo answered Aug 14, 2023

by Blubberbo

8.3k points

0 Comments

Please log in or register to add a comment.

← Prev Question Next Question →

Related questions

asked May 14, 2023 164k views

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

Red Cricket asked May 14, 2023

by Red Cricket

7.5k points

Business
college

1 answer

1 vote

164k views

asked Nov 25, 2024 157k views

Which cost flow assumption conforms to the physical inventory flows? Multiple Choice A. LIFO method B. weighted-average method C. FIFO method D. None of the other alternatives are correct E. specific identification

Ggaurav asked Nov 25, 2024

by Ggaurav

8.1k points

Business
high-school

1 answer

0 votes

157k views

asked Jun 18, 2024 166k views

Which inventory costing method assumes that the inventory's costs flow out in the same order the goods are received? A- LIFO B- Weighted average C- FIFO

Andir asked Jun 18, 2024

by Andir

7.4k points

Business
high-school

1 answer

5 votes

166k views

Ask a Question

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.5m questions

12.2m answers

0 Comments

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

0 Comments

Please log in or register to add a comment.

Related questions

Other Questions