Which Inventory Method Is Better Described as Having a Balance

question 6

Multiple Choice

Which inventory method is better described as having a balance sheet focus and why is it considered as such?

• A)FIFO;better approximates the value of ending inventory.
• B)LIFO;better approximates the value of ending inventory.
• C)LIFO;better approximates inventory cost necessary to generate revenue.
• D)FIFO;better approximates inventory cost necessary to generate revenue.

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Definitions:

Single-Subject

A research design focusing on the responses of one subject to document and analyze the effects of certain variables or interventions.

Operant Conditioning

A learning process in which the likelihood of a behavior's occurrence is increased or decreased through reinforcement or punishment, respectively, introduced by B.F. Skinner.

Deterministic

The philosophical view that all events, including moral choices, are completely determined by previously existing causes.

Conscious Free Will

The concept that individuals have the ability to make choices and decisions consciously and voluntarily.