The Inventory Method That Assigns the Most Recent Costs to Cost

question 140

Multiple Choice

The inventory method that assigns the most recent costs to cost of goods sold is

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

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Definitions:

Sensory Threshold

The minimum level of stimulus intensity needed for a stimulus to be perceived.

Stimulation

The act of arousing or urging into action, often by providing an external stimulus to trigger a response.

Sense Organs

Specialized organs or structures in the body that respond to external stimuli, such as the eyes, ears, nose, tongue, and skin, enabling perception of sight, sound, smell, taste, and touch.

External Environment

All outside factors and influences that impact the operation and performance of an entity or individual.