Which of the Following Inventory Costing Methods Yields the Highest

question 101

Multiple Choice

Which of the following inventory costing methods yields the highest ending inventory when costs are rising during the accounting period?

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

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Definitions:

Allowance for Doubtful Accounts

A contra-asset account used to reduce the total receivables reported to reflect only the amounts expected to be collected.

Bad Debts Expense

Bad debts expense represents the loss that a company anticipates or realizes from customers who are unable to pay their outstanding balances.

Uncollectible Accounts

Refers to receivables that a business has determined are unlikely to be collected due to customer default.

Aging

A method used in accounting to categorize a company's accounts receivable according to the duration of time an invoice has been outstanding.