In the 20th Century,velocity Has

question 50

Multiple Choice

In the 20th century,velocity has

• A)been quite stable over periods as long as a decade.
• B)grown at a constant rate.
• C)been quite volatile.
• D)been quite stable over short,two year periods.

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Definitions:

FIFO

First In, First Out, a method used in accounting to manage inventory and financial matters where the first items placed in inventory are the first sold or used.

Average Cost

A method of inventory valuation that calculates the cost of goods sold and ending inventory based on the weighted average cost of all goods available for sale.

First-In, First-Out

An inventory valuation method where the cost of the earliest goods purchased are the first to be recognized in determining cost of goods sold.

Last-In, First-Out

An inventory valuation method where the costs of the most recently acquired items are the first to be expensed.