Which of the Following Is NOT an Inventory Costing Method

question 51

Multiple Choice

Which of the following is NOT an inventory costing method?

• A) specific identification
• B) lower of cost or market
• C) last-in, first-out
• D) first-in, first-out

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Definitions:

Principal Repaid

The amount of loan or debt's original borrowing that has been or is being paid back, excluding interest payments.

Long-Term Notes

Debt securities or loans with maturities extending beyond one year, typically used for long-term financing needs.

Gift Card Expense

The cost recognized by a company when a gift card is redeemed, reflecting the reduction in liability and recognition of revenue or expense.

Redeemed

The process of paying off or buying back something, often referring to repaying the principal amount of bonds or preferred stocks.