The Inventory Allocation Method That Assigns the Most Recent Costs

question 47

Multiple Choice

The inventory allocation method that assigns the most recent costs to ending inventory and the oldest costs to cost of goods sold is the ________.

• A) specific identification method
• B) LIFO method
• C) moving-average method
• D) FIFO method

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Definitions:

Mutual Funds

Investment funds that pool money from many investors to purchase a diversified portfolio of stocks, bonds, or other securities.

Annual Reports

Annual reports are comprehensive documents produced by companies at the end of an accounting year, detailing their operational and financial performance, intended for shareholders and potential investors.

Insurance Company

A financial institution that provides a range of insurance policies to protect individuals and businesses against various risks.

Mutual Fund

is an investment vehicle made up of a pool of funds collected from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments, and other assets.