If Prices Are Rising,which Inventory Cost Flow Method Will Produce

question 58

Multiple Choice

If prices are rising,which inventory cost flow method will produce the lowest amount of cost of goods sold?

• A)LIFO
• B)FIFO
• C)Weighted average
• D)LIFO,FIFO,and the weighted-average inventory cost flow methods will all produce equal amounts of cost of goods sold.

---

Definitions:

G. Stanley Hall

An influential American psychologist and educator best known for his work in developmental psychology and education.

Biological Maturation

The natural process by which organisms grow and develop, guided by genetic factors and largely independent of external influences.

Freud

Refers to Sigmund Freud, an Austrian neurologist and the founder of psychoanalysis, a method for treating psychopathology through dialogue between a patient and a psychoanalyst.

Id, Ego, Superego

Components of the human psyche in Freudian psychoanalytic theory, with the id being instinctual desires, the ego the realistic mediator, and the superego the moral conscience.