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:

Yale

An elite Ivy League university located in New Haven, Connecticut, known for its rich history, academic excellence, and influential alumni.

Profitable

Generating a financial gain or benefit, exceeding the cost of operation.

Sinclair Lewis

An American novelist and playwright, awarded the Nobel Prize in Literature in 1930, known for his critical views of American society and capitalism.

Main Street

Symbolically represents the average or typical American city or town, especially in the context of small business and community values.