A Method of Valuing Inventory Based on the Costs for Each

question 60

Multiple Choice

A method of valuing inventory based on the costs for each individual item is called the:

• A)LIFO method.
• B)average cost method.
• C)specific cost method.
• D)FIFO method.

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Definitions:

Motivation Theories

Psychological theories that aim to explain what drives individuals to initiate, direct, and persist in behaviors aimed at achieving a goal.

Employee Needs

The physical, emotional, social, and psychological requirements of employees that need to be met for them to perform their jobs effectively and remain satisfied and motivated.

Four-drive Theory

A theory positing that human behavior is driven by four fundamental needs or drives: the drive to acquire, bond, learn, and defend.

Reactive

A response or behavior that occurs as a result of external stimuli, rather than initiating action proactively.