Match Each Description to the Appropriate Cost Flow Assumption (A-D)

question 204

Multiple Choice

Match each description to the appropriate cost flow assumption (a-d) .
-The cost of the units sold and in ending inventory is a weighted average of the purchase costs.

• A)Weighted average
• B)First-in, first-out (FIFO)
• C)Last-in, first-out (LIFO)
• D)Specific identification

---

Definitions:

Concepts

Abstract ideas or general notions that serve as the building blocks for theories, models, or strategies across various fields.

Actions

Actions refer to the steps or initiatives taken to achieve a specific goal or outcome.

Ultimate Consumers

The final users of a product or service, typically individuals who purchase goods for personal use rather than for resale or further production.

Household

A living arrangement in which an individual or group of people residing at the same address share domestic responsibilities.