The Advantage of FIFO Is That It Assigns the Most

question 123

True/False

The advantage of FIFO is that it assigns the most recent costs to cost of goods sold, and better matches current costs with revenues on the income statement.

---

Definitions:

Manipulate to Obtain

A strategic action of influencing or controlling someone or something to achieve a desired outcome.

Fixed-Ratio Schedule

In operant conditioning, a reinforcement schedule that reinforces a response only after a specified number of responses.

Specified Time

A clearly defined or identified moment or period on a timeline.

Unpredictable Time

Moments or durations that cannot be anticipated or forecasted with certainty.