One Inventory Cost Flow Assumption Will Result in Different Cost

question 51

Multiple Choice

One inventory cost flow assumption will result in different cost of goods sold from another inventory cost flow assumption only if:

• A)inventory quantities change from the beginning to end of the year.
• B)a new product is added to inventory during the year.
• C)the cost of inventory items changes during the year.
• D)price levels do not change during the year.

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Definitions:

(-)-Lactic Acid

An enantiomer of lactic acid that is often associated with the sour taste of fermented foods.

Meso Compound

A molecule with multiple chiral centers that is superimposable on its mirror image due to an internal plane of symmetry.

Stereochemical Relationship

Stereochemical relationship refers to the spatial orientation and arrangement of atoms or groups within molecules, determining their stereochemistry.

Diastereomers

Stereoisomers that are not mirror images of each other, having two or more stereocenters.