Which of the Following Inventory Costing Methods Will Always Result

question 50

Multiple Choice

Which of the following inventory costing methods will always result in the same values for ending inventory and cost of goods sold regardless of whether a perpetual or periodic inventory system is used?

• A) FIFO and LIFO
• B) LIFO and weighted-average cost
• C) Specific identification and FIFO
• D) FIFO and weighted-average cost
• E) LIFO and specific identification

---

Definitions:

Fixed Overhead

Recurring operating expenses that remain relatively constant regardless of the level of production or business activity.

Net Income

The total profit of a company after all expenses, taxes, and costs have been subtracted from total revenue.

Inventory

Products and items that a company keeps with the final intention of selling or further processing.

Special Order

A unique, one-time order or request from a customer, often requiring customized production or handling outside of regular operations.