In a Period of Falling Prices,the Inventory Costing Method That

question 33

Multiple Choice

In a period of falling prices,the inventory costing method that will cause the company to have the highest cost of goods sold is:

• A)FIFO.
• B)LIFO.
• C)Weighted average.
• D)Specific identification.

---

Definitions:

Convenience Product

A type of product that is widely available and requires minimal effort from the consumer to purchase, often bought out of convenience.

Discretionary Product

Products that are non-essential and purchased with disposable income; the purchase can be delayed without significant consequence.

Oral Contraceptives

A type of birth control that is taken by mouth, including pills that prevent ovulation.

Estrogen

The principal female hormone, regulating reproductive functions and the development of secondary sex characteristics.