In a Period of Rising Prices,the Inventory Costing Method That

question 45

Multiple Choice

In a period of rising prices,the inventory costing method that will tend to smooth out erratic changes in costs is

• A)FIFO.
• B)LIFO.
• C)Weighted average.
• D)Specific identification.

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Definitions:

Unearned Fees

Unearned fees are payments received by a company for services yet to be provided or completed, considered a liability until the service is fulfilled.