Two Companies Report the Same Cost of Goods Available for Sale

question 36

Multiple Choice

Two companies report the same cost of goods available for sale but each employs a different inventory costing method. If the price of goods has increased during the period then the company using

• A) LIFO will have the highest ending inventory.
• B) FIFO will have the highest cost of good sold.
• C) FIFO will have the highest ending inventory.
• D) LIFO will have the lowest cost of goods sold.

---

Definitions:

L-dopa

A precursor to the neurotransmitters dopamine, norepinephrine, and epinephrine, frequently used in the treatment of Parkinson's disease.

SSRIs

Selective Serotonin Reuptake Inhibitors, a class of drugs commonly prescribed for depression and anxiety disorders, which work by increasing levels of serotonin in the brain.

Benzodiazepines

A class of psychoactive drugs known for their sedative and anxiolytic effects, commonly used to treat anxiety, seizures, and insomnia.

R-sleep

R-sleep, also known as REM (Rapid Eye Movement) sleep, is a sleep phase characterized by rapid movement of the eyes, increased brain activity, vivid dreams, and temporary muscle paralysis.