In Periods of Falling Prices

question 61

Multiple Choice

In periods of falling prices

• A)FIFO will result in a higher ending inventory valuation than the average cost formula.
• B)FIFO will result in a higher cost of goods sold than the average cost formula.
• C)the average cost formula will result in a higher cost of goods sold than the FIFO cost formula.
• D)the average cost formula will result in a lower ending inventory valuation than the FIFO cost formula.

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