Which Inventory Cost Flow Method Assigns the Cost of the Most

question 164

Multiple Choice

Which inventory cost flow method assigns the cost of the most recent items purchased to ending inventory?

• A)Specific identification
• B)Weighted average cost
• C)FIFO
• D)LIFO

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Definitions:

Real GDP Per Capita

Real GDP divided by the population; the best measure of an economy’s standard of living.

U.S. Job Market

The labor market in the United States, encompassing the supply of labor and demand for workers.

Average Education

The mean level of formal schooling completed by a population, often used as an indicator of human capital in economic studies.

Productivity Of Workers

A measurement of the efficiency and effectiveness of labor in producing goods and services, often quantified as output per worker.