Which of the Following Is Not an Acceptable Inventory Costing

question 23

Multiple Choice

Which of the following is not an acceptable inventory costing method?

• A)Specific identification
• B)Last-In,First-Out (LIFO)
• C)First-In,First-Out (FIFO)
• D)Average cost
• E)Next-In,First-Out (NIFO)

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Definitions:

Maslow's Hierarchy

A theory in psychology that prioritizes human needs in a pyramid structure, starting from basic physiological needs to self-actualization at the top.

Arousal Theory

A theory that suggests people are motivated to maintain an optimal level of arousal, which varies from one individual to another.

Social Networking Sites

Websites or platforms where individuals can create profiles, share information, and interact with others to maintain social connections.

Instinct Theories

Theories that explain human behavior as motivated by automatic, involuntary, and unlearned responses.