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Which of the following is true regarding group therapy versus individual therapy:
Cost Flow Assumption
An accounting method that determines the cost of goods sold and ending inventory valuation, examples include FIFO, LIFO, and weighted average.
LIFO
Last In, First Out, is an inventory valuation method assuming that goods purchased last are the first to be sold.
FIFO
First In, First Out, a method used in accounting to manage inventory and financial matters where the first items placed in inventory are the first sold or used.
Average Cost
A method of inventory valuation that calculates the cost of goods sold and ending inventory based on the weighted average cost of all goods available for sale.
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