According to AASB 102,one or More of Which Set of Methods

question 12

Multiple Choice

According to AASB 102,one or more of which set of methods should be used to apply the costs of inventories to particular items of inventory?

• A) specific identification, LIFO or FIFO
• B) absorption costing, weighted average costing or LIFO
• C) FIFO, specific identification or weighted average cost
• D) weighted average costing, ABC costing or FIFO

---

Definitions:

Lateral Geniculate Nucleus

A part of the thalamus in the brain involved in the processing and relay of visual information to the cerebral cortex.

Dark Adaptation

The method in which the eyes increase their sensitivity to dim light following time spent in the dark.

Visual Acuity

Pertains to the clarity of sight, determined by the capacity to distinguish letters or digits at a specific distance based on a standardized vision chart.

Visual Agnosia

A disorder characterized by the inability to recognize and identify objects or faces, despite having normal vision.