Acceptable Methods of Assigning Specific Costs to Inventory and Cost

question 147

Multiple Choice

Acceptable methods of assigning specific costs to inventory and cost of goods sold include all of the following except:

• A) LIFO method.
• B) Retail method.
• C) Specific identification method.
• D) Weighted average method.
• E) FIFO method.

---

Definitions:

Metabolism

The set of life-sustaining chemical reactions in organisms for converting food to energy, building proteins, and eliminating waste products.

Predisposed

Having a tendency or inclination to something in advance, often referring to genetic or environmental factors leading to certain diseases or behaviors.

Calories

Units of energy used to measure the amount of energy food provides to the body.

Processed Foods

Foods that have been altered from their natural state, often through methods like canning, freezing, refrigeration, dehydration, and packaging, to enhance preservation, flavor, or convenience.