Which of the Following Inventory Valuation Methods Commonly Used in the U.S.is

question 20

Multiple Choice

Which of the following inventory valuation methods commonly used in the U.S.is NOT allowed under IAS 2 (Inventories) ?

• A)LIFO
• B)FIFO
• C)weighted average
• D)retail inventory method

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Definitions:

AVERAGE Function

A function in spreadsheet programs that calculates the mean value of a range of cells, providing a summary statistic of the data set.

Proofing Group

Tools in software applications used for reviewing and correcting text, including spell check and grammar check.

Format Cells Dialog

A feature in spreadsheet software that allows users to change the appearance of cells, including their borders, colors, and number formatting.

Column Width

The horizontal measurement of a column in a table or spreadsheet, affecting how much content can be displayed within it.