Which of the Following Methods Is Appropriate for a Business

question 56

Multiple Choice

Which of the following methods is appropriate for a business whose inventory consists of a relatively small number of unique, high-cost items?

• A) FIFO
• B) LIFO
• C) average
• D) specific identification

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Definitions:

Laws

Rules established by a governing authority to regulate behaviors, enforce order, and ensure justice within a society.

Tay-Sachs Disease

A genetic disorder characterized by the absence of a vital enzyme, leading to the accumulation of fats in the nervous system, resulting in early death.

Recessive Gene

A gene that can lead to a particular trait only when paired with an identical gene; its effects are masked by dominant genes when in a heterozygous condition.

Sound Waves

Vibrations that travel through the air or another medium and can be heard when they reach a person's or animal's ear.