When Inventory Costs Are Declining,which of the Following Inventory Costing

question 92

Multiple Choice

When inventory costs are declining,which of the following inventory costing method will result in the lowest ending merchandise inventory?

• A) first-in, first-out
• B) last-in, first-out
• C) weighted-average
• D) specific identification

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Definitions:

Parties Agree

A mutual understanding or concurrence between two or more parties regarding the terms of a contract or agreement.

Risk Of Loss

The liability for damage, loss, or destruction of goods assumed by a party in a contract.

Sales Contract

A legal agreement between a buyer and a seller which outlines the terms and conditions of the sale of goods or services.

Breaches

Instances where laws, contracts, or agreements are violated or broken.