Which of the Following Inventory Costing Method Is Not Permitted

question 41

Multiple Choice

Which of the following inventory costing method is not permitted by ASPE and IFRS in Canada?

• A)FIFO.
• B)LIFO
• C)Specific identification method
• D)Weighted average cost method

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Definitions:

Incentive

A motivating factor or reward that encourages a person to perform an action or exhibit a behavior.

Motivational Processes

The underlying influences, dynamics, or mechanisms that direct an individual's behavior towards achieving certain goals or fulfilling needs.

Observational Learning

A learning process through which behaviors are acquired by watching and imitating others.

Extinction Processes

The gradual reduction and eventual disappearance of a conditioned response after the conditioned stimulus is no longer paired with the unconditioned stimulus.