Under Which of the Following Inventory Costing Methods Is Ending

question 117

Multiple Choice

Under which of the following inventory costing methods is ending inventory based on the cost of the most recent purchases?

• A) Specific-unit-cost
• B) Average-cost
• C) Last-In, First-Out
• D) First-In, First-Out

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Definitions:

Null Hypotheses

A hypothesis used in statistical testing that assumes no effect or no difference between treatments or groups.

Correction Factor

An adjustment applied to a calculation or a measurement to correct or compensate for a systematic bias or deviation.

Null Hypotheses

A statement suggesting that there is no significant effect or difference, and any observed deviation is due to chance.

Alternative Hypotheses

In statistical testing, these are hypotheses that suggest there is a difference or effect, in contrast to the null hypothesis, which suggests there is no effect.