When Merchandise Sold Is Assumed to Be in the Order

question 159

Multiple Choice

When merchandise sold is assumed to be in the order in which the purchases were made, the company is using

• A) first-in, last-out
• B) last-in, first-out
• C) first-in, first-out
• D) average cost

---

Definitions:

Physical Understandings

The grasp of physical principles and how objects interact in the physical world, often developed in early childhood through observation and interaction.

Absent Objects

Concepts or items that are not physically present but can still have effects or be represented in thought.

Motor Abilities

The physical skills related to movement and coordination, including gross and fine motor skills.

Object Permanence

The concept that objects remain in existence even when they're not being perceived through sight, sound, touch, smell, or any other senses.