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

question 94

Short Answer

Match each description to the appropriate cost flow assumption (a-c).
-Produces the same cost of goods sold under both the periodic and the perpetual inventory systems
A)FIFO
B)LIFO
C)Weighted average

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

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Definitions:

Conditional Operator

A ternary operator in C and C++ (?:) that selects one of two expressions to evaluate, based on a third expression being true or false.

Assignment Operator

An operator in programming languages used to assign a value to a variable, typically denoted by an equal sign (=).

Conditional Expressions

Expressions in programming that evaluate to different values depending on a given condition, commonly used for decision-making.

If-else Statements

Control structures that execute a block of code if a specified condition is true, and optionally another block if the condition is false.