Which of the Following Is an Inventory Costing Method

question 53

Multiple Choice

Which of the following is an inventory costing method?

• A)Periodic
• B)Specific identification
• C)Perpetual
• D)Lower of cost or market

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Definitions:

Per Unit

A term that describes costs or revenues on a single unit basis.

Variable Costs

Expenses that directly fluctuate in proportion to the production or service activity level.

Activity

Any action or operation within a business or process.

Committed Fixed Costs

Long-term fixed costs that an organization has committed to, which are not easily changed, such as lease payments or insurance costs.