Examlex
Which one of the following is NOT a direct outcome of performing analytical procedures?
LIFO method
An inventory cost-flow assumption where the last items purchased or produced are the first to be expensed as sold, opposite of FIFO.
Cost of merchandise sold
The total expense incurred to produce or purchase the goods sold by a company during a specific period.
Year amount
Typically refers to the total sums of money or quantities measured over the course of a year in financial or quantitative analyses.
Average costing
Average costing is an inventory costing method where all costs of inventory are averaged over the goods available for sale, providing a medium cost per unit.
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