Which of the Following Inventory Costing Methods Results in the Highest

question 66

Multiple Choice

Which of the following inventory costing methods results in the highest value of ending inventory during a period of rising inventory costs?

• A)Specific identification
• B)Weighted-average
• C)Last-in, first-out
• D)First-in, first-out

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Definitions:

Charges

Fees or financial obligations imposed by an entity for services rendered or as penalties for non-compliance with laws or regulations.

Account

A record summarizing the financial transactions pertaining to a specific period or purpose, such as savings or checking in a bank.

Agency by Ratification

A situation where actions taken by a person who is not officially an agent are approved and accepted by the principal after the fact, thereby creating an agency relationship.

Affirms

To declare something to be true, confirm, or ratify, especially in a legal context.