The Inventory Costing Method That Considers the Ending Inventory to Be

question 87

Multiple Choice

The inventory costing method that considers the ending inventory to be composed of units of the merchandise acquired earliest is called:

• A) first-in, first-out.
• B) highest-in, first-out.
• C) lowest-in, first-out.
• D) last-in, first-out.

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Definitions:

Excess Water Removal

The process by which organisms eliminate surplus water to maintain fluid balance, often involving specific organs like kidneys in humans.

Protists

A diverse group of eukaryotic microorganisms, which are neither plants, animals, nor fungi, and may be unicellular or multicellular.

Free-Living

Describes organisms that do not depend on another organism for survival; they are not parasitic and can exist independently in an environment.

Aquatic

Pertaining to water; living or occurring in water, whether it be freshwater, brackish, or saltwater.