When Costing Ending Inventory Under a Perpetual Inventory System, the

question 50

Multiple Choice

When costing ending inventory under a perpetual inventory system, the

• A) cost using the LIFO method is the same as the cost using the LIFO method under the periodic inventory system.
• B) moving average requires that a new average be computed after every sale.
• C) cost using the FIFO method is the same as under the periodic inventory system.
• D) earliest units purchased during the period using the LIFO assumption are allocated to the cost of goods sold when units are sold.

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