The Size of the Divergence Between FIFO Cost of Goods

question 122

Multiple Choice

The size of the divergence between FIFO cost of goods sold and replacement cost of goods sold depends on

• A)the severity of input cost changes.
• B)the rapidity of physical inventory turnover.
• C)both the severity of input cost changes and the rapidity of physical inventory turnover.
• D)a multitude of factors including the severity of input cost changes and the rapidity of physical inventory turnover.

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