Which of the Following Methods Is Appropriate for a Business

question 56

Multiple Choice

Which of the following methods is appropriate for a business whose inventory consists of a relatively small number of unique, high-cost items?

• A) FIFO
• B) LIFO
• C) average
• D) specific identification

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Definitions:

Leadership Role

The position or responsibility of guiding and influencing individuals or groups towards achieving a common goal.

Social Issues

Problems that influence a considerable number of individuals within a society, reflecting group conflicts and challenges.

Obstructionist Strategy

Avoids social responsibility and reflects mainly economic priorities.

Discretionary Responsibilities

Responsibilities in a job that allow an employee to make decisions and judgements without needing prior approval.