The Method of Computing Inventory That Uses Records of the Selling

question 161

Multiple Choice

The method of computing inventory that uses records of the selling prices of the merchandise is called

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

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Definitions:

Validity

The extent to which a test, measure, or research study accurately represents or measures what it is intended to, ensuring the findings are truthful and applicable.

True Zero

A point on a scale which indicates the absolute absence of the quantity being measured.

Computed

Calculated or processed using a computer or computational method.