Match Each Description to the Appropriate Cost Flow Assumption (A-C)

question 1

Multiple Choice

Match each description to the appropriate cost flow assumption (a-c) .
-Produces results that are similar to the specific identification method

• A)FIFO
• B)LIFO
• C)Weighted average

---

Definitions:

Bills of Lading

Official documents issued by a carrier to acknowledge receipt of cargo for shipment, detailing the terms of the carriage.

Negotiable

Capable of being bought, sold, or transferred to another party through endorsement or delivery.

Regulation of Insurance

The oversight and control of insurance practices and policies by government agencies to ensure fairness, solvency, and market stability.

Warranties

Legally binding promises or guarantees about the condition, quality, or performance of a product or service.