The Inventory Method That Assigns the Most Recent Costs to Cost

question 24

Multiple Choice

The inventory method that assigns the most recent costs to cost of goods sold is

• A) FIFO
• B) LIFO
• C) weighted average
• D) specific identification

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Definitions:

Common Stock

A type of equity security that represents ownership in a corporation, usually with voting rights.

Securities Purchased

Financial instruments like stocks, bonds, or mutual funds that have been bought and are now owned by the purchaser.

Stock Investments-Run

Stock investments-run refers to the active management or trading of stock investments over a certain period to achieve specific financial goals.

Common Stock

Equity securities representing ownership shares in a corporation, giving holders voting rights and a share in the company’s profits through dividends.