With the Perpetual Method of Accounting for Inventory the Costing

question 30

Multiple Choice

With the perpetual method of accounting for inventory the costing assumption,such as first-in first-out,is applied to:

• A)Cost of sales at the end of the accounting year
• B)Each sale via stock cards or computer records
• C)Inventory at the end of the month
• D)The current asset inventory in the balance sheet