Which of the Following Inventory Costing Methods Yields the Highest

question 54

Multiple Choice

Which of the following inventory costing methods yields the highest cost of goods sold 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:

Time Order

An organizational method used in writing and speaking where information is presented in the sequence of when events occurred.

Mother Teresa

A Roman Catholic nun and missionary of Albanian-Indian descent who was known for her charitable work with the poor in Kolkata, India.

Calcutta

A large city in Eastern India, known for its rich history, cultural heritage, and as a major port on the Hooghly river.

Poor

Lacking sufficient financial resources or wealth, often leading to a lower standard of living.