Which Inventory Cost Flow Method Assigns the Cost of the Most

question 198

Multiple Choice

Which inventory cost flow method assigns the cost of the most recent items purchased to ending inventory?

• A)specific identification
• B)weighted average cost
• C)FIFO
• D)LIFO

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Definitions:

Intangible Assets

Assets that lack physical substance but possess value, such as patents, trademarks, and copyrights, recognized in financial accounting.

Straight-Line Amortization

A technique for evenly distributing the expense of an intangible asset throughout its lifespan.

Technological Feasibility

The extent to which a proposed technology or solution can be successfully developed and implemented based on current technological capabilities.

Franchise Costs

Expenses incurred for acquiring and starting a franchise business, which includes initial franchise fees, marketing, and start-up costs.