When Inventory Costs Are Declining,which of the Following Inventory Costing

question 7

Multiple Choice

When inventory costs are declining,which of the following inventory costing methods will result in the highest cost of goods sold?

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

---

Definitions:

Cognitive Dissonance

A psychological state of discomfort arising from holding two or more conflicting beliefs, values, or attitudes, leading to behavior change or attitude adjustment.

Consistency

is the tendency to maintain a uniform behavior, attitude, or belief over time.

Cognitions

Mental processes involved in gaining knowledge and comprehension, including thinking, knowing, remembering, judging, and problem-solving.

Motivated

Having a desire or willingness to achieve something, often accompanied by enthusiasm.