Which Method of Inventory Assumes the Last Units Purchased Will

question 16

Multiple Choice

Which method of inventory assumes the last units purchased will remain in ending inventory on the balance sheet?

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

---

Definitions:

Implicit Leadership Theory

A theory that states that individuals hold a set of beliefs about the kinds of attributes, personality characteristics, skills, and behaviours that contribute to or impede outstanding leadership.

Leader-member Exchange Theory

explores the dynamic relationship between leaders and followers, emphasizing the importance of bilateral trust, respect, and loyalty in enhancing performance.

Bias and Discrimination

involve unfair prejudices or differential treatment of individuals based on characteristics such as race, gender, age, or sexual orientation.

CEO

Stands for Chief Executive Officer, the highest-ranking executive in a company, responsible for making major corporate decisions, managing the overall operations and resources of a company, and acting as the main point of communication between the board of directors and company operations.