Which of the Following Statements Is True

question 61

Multiple Choice

Which of the following statements is true?

• A)Valuing inventory under LIFO may produce different results depending on whether a perpetual or periodic inventory system is used.
• B)Valuing inventory under the weighted average cost method always produces the same results using either a perpetual or periodic inventory system.
• C)Valuing inventory under FIFO may produce different results depending on whether a perpetual or periodic inventory system is used.
• D)Using the specific identification method will produce different results depending on whether perpetual or periodic inventory system is used.