Which Inventory Costing Method Generally Results in the Most Recent

question 125

Multiple Choice

Which inventory costing method generally results in the most recent costs being assigned to ending inventory?

• A)LIFO.
• B)FIFO.
• C)Weighted average cost.
• D)Simple average cost.

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Definitions:

Acanthostega

An extinct amphibian from the late Devonian period, known as an early tetrapod linking fish to terrestrial vertebrates.

Tiktaalik

An extinct fishlike vertebrate from the late Devonian period, presenting features common to both fish and early tetrapods, bridging an evolutionary gap.

Theropods

A group of bipedal dinosaurs that includes both carnivorous species, such as the Tyrannosaurus rex, and the ancestors of modern birds.

Feathers

The unique integumentary structures made of keratin that are found on birds and are used for flight, insulation, and display.