An Example of an Inventory Accounting Policy That Should Be

question 44

Multiple Choice

An example of an inventory accounting policy that should be disclosed in a Summary of Significant Accounting Policies is the

• A) amount of income resulting from the involuntary liquidation of LIFO.
• B) major backlogs of inventory orders.
• C) method used for pricing inventory.
• D) composition of inventory into raw materials, work-in-process, and finished goods.

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Definitions:

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