The Final Step in the Scientific Method Is To

question 59

Multiple Choice

The final step in the scientific method is to:

• A)draw conclusions.
• B)share the findings.
• C)test the hypothesis.
• D)generate questions.

---

Definitions:

Periodic Inventory

A method of inventory valuation where updates to the inventory levels and cost of goods sold are made at the end of an accounting period.

Inventory Balance

The total value of a company's inventory at the end of an accounting period, including raw materials, work-in-progress, and finished goods.

Inventory Turnover Distortion

A situation where the calculated rate of inventory turnover does not accurately reflect a business's actual efficiency in managing inventory.

LIFO Liquidation

The process of selling older inventory that was valued under the Last-In, First-Out method, which can affect taxation and financial reporting.