Which of the Following Inventory Costing Methods Is Prohibited Under

question 33

Multiple Choice

Which of the following inventory costing methods is prohibited under IFRS?

• A)FIFO
• B)Weighted average
• C)LIFO
• D)Perpetual

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Definitions:

Ether

A class of organic compounds that contain an oxygen atom connected to two alkyl or aryl groups, used as solvents and anesthetics.

Chemical Shift

A measure of the change in resonant frequency of a nucleus in a magnetic field due to its electronic environment, important in nuclear magnetic resonance (NMR) spectroscopy.

Carbon

A nonmetallic element that forms the basis of all known life on Earth, symbolized as C.

Oxygen

A chemical element with the symbol O and atomic number 8, essential for respiration in most life forms and used widely in industry.