Under Which Method of Inventory Costing Is the Ending Inventory

question 13

Multiple Choice

Under which method of inventory costing is the ending inventory assumed to be composed of the most recent costs?

• A) Average cost
• B) Last-in, first-out
• C) First-in, last-out
• D) First-in, first-out

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Definitions:

Exports

Trade goods or services exported from one country to another for commercial exchange or sale.

Trading Partner

A country, group of countries, or an entity with which another conducts trade and business transactions.

Workforce

The total number of people employed or seeking employment in a country or specific sector.

Service Sector

The segment of the economy that provides intangible goods and services, such as healthcare, education, and financial services.