Which Of The Following Is True Of The Fifo Inventory Method

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Inventory costing methods place primary reliance on assumptions about the flow of. costs. Which of the following is true of the FIFO inventory method? It assumes that the cost of the earliest units purchased are the first to be allocated to cost of goods sold. Which of the following would most likely employ the specific .Which of the following not an acceptable inventory costing method? =Last-in, last-out =Average cost =Last-in, first-out =First-in, first-out. Last-in, last-out. Which of the following is true of the FIFO inventory method? =It assumes that the cost of the earliest units purchased are the first to be allocated to cost of goods sold..True Net income divided by net sales equals profit margin $1,400,000 $1,330,000 /$1,400,000 = 5 . Which of the following is true of the FIFO inventory method? It assumes that the cost of the earliest units purchased are the first to be allocated to cost of goods sold. FIFO assumes the cost of the earliest units purchased .Which of following is true? A. LIFO inventory valuation requires physical flow of goods to be representation of cost flow B. FIFO inventory valuation requires physical flow of goods to be representative of cost flow C. Specific identification method inventory valuation requires physical flow of goods to be representative of cost .