The FIFO Method Is a More Accurate Method Than Weighted

question 61

Multiple Choice

The FIFO method is a more accurate method than weighted average because:

• A) it does not require the calculation of equivalent units.
• B) the costs of current period are not combined with the costs of the prior period.
• C) it considers prior period costs during the current period.
• D) it must be computerised in order to obtain accurate calculations.

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Definitions:

Cognitive Psychologist

A professional who studies mental processes including perception, thinking, memory, and judgment.

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Professionals who study, research, and teach about the human mind and behavior in an academic setting.

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A global conflict that occurred from 1939 to 1945, involving most of the world's nations, including all the great powers, organized into two opposing military alliances.

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