Which Inventory Cost Flow Method Assigns the Cost of the Most

question 198

Multiple Choice

Which inventory cost flow method assigns the cost of the most recent items purchased to ending inventory?

• A)specific identification
• B)weighted average cost
• C)FIFO
• D)LIFO

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Definitions:

Assumption

A statement accepted as true without proof, often forming the basis of an argument or hypothesis.

MT

Modus Tollens, a form of logical argument or a rule of inference allowing one to deduce a conclusion from a hypothetical proposition and its denial.

Add

In context, add might not be a specific key term without further context; it typically means to combine or sum quantities in mathematics.

Assumption

Something presumed to be true or certain to occur, even without evidence.