Which of the Following Is Not Considered an Acceptable Inventory

question 30

Multiple Choice

Which of the following is not considered an acceptable inventory cost method according to GAAP?

• A)First-in,first-out
• B)First-in,last-out
• C)Last-in,first-out
• D)Average cost

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Definitions:

Comprehensive

Describing something as fully inclusive or encompassing all necessary elements, parts, or aspects.

Childcare

The care and supervision of a child or multiple children, typically from ages six weeks to thirteen years, by a person other than the child's legal guardians.

Primary Care

The day-to-day healthcare given by a health care provider, typically the first point of consultation for all patients within the health care system.

Latent Functions

Are invisible and unintended effects of social structures.