Which Costing Method Cannot Be Used to Determine the Cost

question 108

Multiple Choice

Which costing method cannot be used to determine the cost of inventory items before lower-of-cost-or-net realizable value market is applied?

• A) Specific identification
• B) FIFO
• C) Average-cost
• D) All of these methods can be used.

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Definitions:

Danger Zone

In food safety, the danger zone refers to temperatures between 40°F and 140°F where bacteria grow most rapidly, potentially leading to foodborne illnesses.

Competitor

An entity that operates in the same industry or market as another, offering similar goods or services.

OTC Model

A model where securities are bought and sold via a dealer network as opposed to on a centralized exchange.