Under the LIFO Method, the Flow of Costs Through the Accounting

question 134

Multiple Choice

Under the LIFO method, the flow of costs through the accounting records will:

• A)be nearly the opposite of the physical flow of goods through the business.
• B)closely match the physical flow of goods through the business.
• C)exactly match the physical flow of goods through the business.
• D)have no relationship to the physical flow of goods through the business.

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