When the Value 4

question 104

Multiple Choice

When the value 4.449 is rounded to two significant figures,the number should be reported as:

• A)4.4
• B)4.5
• C)4.44
• D)4.45
• E)none of the above

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Definitions:

FIFO Cost Flow

A method used in accounting for inventory valuation where the first goods purchased are the first goods sold, standing for First-In, First-Out.

Finished Goods Inventory

Goods that have been fully manufactured but remain unsold or undistributed to purchasers.

Cost Of Goods Sold

The immediate expenses linked to the manufacturing of products a company sells.

Product Costs

The costs directly attributable to the manufacturing of a product, including direct labor, direct materials, and manufacturing overhead.