Which of the Following Statements Is Incorrect

question 37

Multiple Choice

Which of the following statements is incorrect?

• A)A year-end purchase of inventory increases the LIFO cost of goods sold when unit costs are increasing.
• B)A year-end purchase of inventory increases the FIFO ending inventory when unit costs are increasing.
• C)The choice of an inventory costing method is dependent on the actual flow of goods when inventory is sold.
• D)A year-end purchase of inventory does not affect the weighted-average ending inventory when unit costs are increasing.

---

Definitions:

Obsessive-Compulsive Disorder

A mental health disorder characterized by recurrent, unwanted thoughts (obsessions) and/or repetitive behaviors (compulsions).

Thalamus

A brain structure that relays sensory messages to the cerebral cortex.

Amygdala

A brain structure involved in the arousal and regulation of emotion and the initial emotional response to sensory information.

Prefrontal Cortex

A part of the frontal lobes of the brain, involved in decision making, problem-solving, control of purposeful behaviors, consciousness, and emotions.