Which of the Following Methods Considers the Percentage of Completion

question 111

Multiple Choice

Which of the following methods considers the percentage of completion of ending work in process?

• A)FIFO and LIFO
• B)LIFO and CVP
• C)weighted average and CVP
• D)weighted average and FIFO

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Definitions:

Price

The cost at which goods or services are offered to consumers.

Surplus Amount

The excess of supply over demand in a market, resulting in downward pressure on prices.

Consumer Surplus

The discrepancy between what consumers are ready and capable of paying for a product or service and the actual amount they end up paying.

Price Falls

A decrease in the market price of goods or services, often due to increased supply, reduced demand, or other market dynamics.