Which of the Following Inventory Costing Methods Uses the Cost

question 49

Multiple Choice

Which of the following inventory costing methods uses the cost of the oldest purchases to compute the cost of goods sold?

• A) specific identification
• B) weighted-average
• C) last-in, first-out
• D) first-in, first-out

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Definitions:

Pulmonary Arteries

The large blood vessels that carry deoxygenated blood from the heart to the lungs for oxygenation.

Pulmonary Veins

The blood vessels that carry oxygenated blood from the lungs back to the left atrium of the heart.

Venae Cavae

The two significant veins, known as the superior and inferior, which transport deoxygenated blood from the body back to the heart.

Pulmonary Veins

The veins that carry oxygenated blood from the lungs back to the left atrium of the heart.