Which of the Following Is Not One of the Methods

question 8

Multiple Choice

Which of the following is not one of the methods used to assign costs between cost of sales and closing inventory?

• A) First-in first-out
• B) Weighted average
• C) Specific identification
• D) Lower of cost and net realisable value

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Definitions:

Utility

In economics, a measure of satisfaction, usefulness or value that an individual gains from consuming goods and services.

Consumption Bundle

A combination of goods and services selected by a consumer for personal use.

T-Shirts

A basic item of clothing characterized by short sleeves, generally made of cotton, and lacking a collar.

Coffee

A beverage made from roasted coffee beans, which are the seeds of berries from the Coffea plant.