One Advantage of the LIFO Method Is That

question 89

Multiple Choice

One advantage of the LIFO method is that:

• A)an equal cost is assigned to each unit,so net income does not fluctuate as much as with other methods.
• B)flow of goods and flow of costs are the same.
• C)it matches current selling prices and current costs.
• D)ending inventory is valued at very old costs.

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Definitions:

Self-concept

An individual's perception of their own abilities, weaknesses, beliefs, and personality.

Identity

The sense of self, characterized by one's beliefs, personality traits, and values, that distinguishes an individual from others.

Moral Intuitions

Immediate, gut-level ethical judgments that people make without relying on conscious reasoning.

Temperament

The inherent part of an individual's personality that influences how they react to the environment and situations, often evident from infancy.