Which Method of Inventory Would Be Least Likely to Be

question 54

Multiple Choice

Which method of inventory would be least likely to be used by a European firm?

• A)FIFO.
• B)LIFO.
• C)Average cost.
• D)LIFO and FIFO.

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Definitions:

Horticulturalist

An individual or community that practices horticulture, the art or practice of garden cultivation and management.

Idea of Progress

The belief that society can grow and evolve in a positive direction through advancements in science, technology, and social organization.

Neolithic Period

A prehistoric period marked by the development of agriculture, the creation of permanent settlements, and the rise of complex societies.

Agricultural Societies

Communities or societies that rely on agriculture as their primary means of subsistence, focusing on the cultivation of crops and raising of livestock.