Identify the Inventory Valuation Method Below That Cannot Be Calculated

question 49

Multiple Choice

Identify the inventory valuation method below that cannot be calculated in a database created using an REA modeling approach.

• A)LIFO.
• B)FIFO.
• C)Weighted Average.
• D)none of the above

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Definitions:

Unrestricted Contribution

Donations or funding received without stipulations on how they must be spent, allowing the recipient discretion in their use.

Useful Life

The expected period of time during which an asset is useful to the average owner and can generate income or benefits.

Capital Fund

Resources accumulated by an entity to finance long-term projects or investment, not intended for regular operational expenses.

General Fund

The primary operating fund of a governmental entity, covering most basic governmental functions and activities.