Which of the Following Methods for Determining Inventory Cost Is

question 20

Multiple Choice

Which of the following methods for determining inventory cost is not allowed by GAAP?

• A)Average cost.
• B)FIFO.
• C)LIFO.
• D)Standard cost.

Understand the financial structure of a corporation, including stocks and the raising of capital.

Learn the legal requirements and procedural aspects of forming a corporation.

Understand the liability of individuals acting on behalf of a corporation.

Recognize the implications of corporate personhood on rights and responsibilities.