The Information Below for 2008 in Millions Was Reported by the World

question 4

Multiple Choice

The information below for 2008 in millions was reported by the World Bank.On the basis of this information,which list below contains the correct ordering of GDP per person from highest to lowest?

• A)Ghana,Kenya,Tanzania
• B)Ghana,Tanzania,Kenya
• C)Kenya,Tanzania,Ghana
• D)Kenya,Ghana,Tanzania

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Definitions:

First-In, First-Out Method

An accounting method for valuing inventory where the first items purchased are the first ones removed from inventory, reflecting costs in the order they were incurred.

Conversion Costs

Conversion costs are the total expenses incurred in turning raw material into a finished product, including labor and overhead costs.

Forming Department

A specific section within a manufacturing facility where raw materials are shaped or formed into parts for further production processes.

Weighted-Average Method

An inventory valuation method that calculates the cost of goods sold and ending inventory based on the average cost of all inventory items.