When the FIFO Method Is Used, Ending Inventory Is Assumed

question 36

Multiple Choice

When the FIFO method is used, ending inventory is assumed to consist of the:

• A)oldest units.
• B)most recently purchased units.
• C)units with the highest per unit cost.
• D)units with the lowest per unit cost.

---

Definitions:

Workplace

The physical or virtual location where work is carried out, including offices, factories, or online platforms.

Labour Costs

The total amount of money that businesses need to pay to their employees, including wages, salaries, and benefits.

Unemployment Rates

The percentage of the labor force that is jobless and actively seeking employment.

Training Needs

Identification of gaps in knowledge, skills, and abilities among employees or a workforce, which can be addressed through targeted training programs.