Goods Such as Milk, Bread, and Cheese Need to Be

question 95

Multiple Choice

Goods such as milk, bread, and cheese need to be sold quickly due to potential spoilage. Therefore, they would probably be costed using the:

• A)LIFO method of inventory costing.
• B)FIFO method of inventory costing.
• C)average cost method of inventory costing.
• D)any method as the physical flow and the cost flow are different.

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Definitions:

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