FIFO,LIFO,and Weighted Average Inventory Costing Methods Are Based On

question 29

Multiple Choice

FIFO,LIFO,and weighted average inventory costing methods are based on:

• A)assumptions that accountants make about the flow of inventory costs.
• B)the actual physical flow of goods purchased and sold by a business.
• C)surveys taken that ask real companies how they value their inventories.
• D)the accounting equation (assets = liabilities + stockholders' equity).

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Definitions:

IQ

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Racist Beliefs

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Genetic Differences

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