Which of the Following Inventory Costing Methods Is Based on the Actual

question 124

Multiple Choice

Which of the following inventory costing methods is based on the actual cost of each particular unit of inventory?

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

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Definitions:

Negligent Hiring

The failure of an employer to perform due diligence during the hiring process, resulting in the recruitment of an individual who causes harm or poses a risk to others.

Respondeat Superior

A legal doctrine holding an employer or principal legally responsible for the wrongful acts of an employee or agent, if such acts occur within the scope of employment or representation.

Tort Liability

Tort liability arises from the breach of a duty primarily fixed by law; this responsibility usually relates to harm caused by negligence, intentional acts, or under strict liability principles.

Comparative Negligence

The contemporary replacement for the traditional doctrine of contributory negligence. The basic idea is that damages are apportioned between the parties to a negligence action in proportion to their relative fault. The details vary from state to state.