Under Which of the Following Inventory Costing Methods Is the Ending

question 133

Multiple Choice

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

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

---

Definitions:

Galloway's Plan

A proposal by Joseph Galloway in 1774 aimed at maintaining the American colonies' allegiance to Great Britain by offering them greater autonomy within the empire.

John Adams

The second President of the United States (1797-1801), a Founding Father who played a leading role in the American Revolution and the drafting of the Declaration of Independence.

Declaration of Rights

A document asserting the rights of individuals or a collective, such as the Virginia Declaration of Rights of 1776, which influenced the United States Bill of Rights.

Regulator Movements

Groups of backcountry settlers in the 18th-century American colonies who protested against colonial officials' corruption and advocated for government reform.