Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 1. the technique of measuring inventory cost in wh

1. The technique of measuring inventory cost in which items purchased later will be used...

90.2K

Verified Solution

Question

Accounting

1. The technique of measuring inventory cost in which items purchased later will be used first is called;

a. Average Cost

b. Specific Cost

c. FIFO

d. LIFO

.

2. The technique of inventory cost as per which cost of goods sold will be highest is;

a. LIFO

b. Average Cost

c. FIFO

d. Specific Cost

.

3. The technique of inventory cost as per which profit will be highest is;

a. Specific Cost

b. LIFO

c. FIFO

d. Average Cost

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

Question 2-7 are based on the following series of futures price (F(0), F(1),... F(6)): Day 0: F(0)=$212 Day...

Chemistry
1.2K views

of the metal ions tested, sodium produces the brightest and most persistent color in the flame....

Advance Math
1.2K views

Using definitions of dot product and cross product, show that dot product and cross product are...

Geometry
1.2K views

What is the measure of the arc indicated mST V S 60x 121 x 1...

Algebra
1.2K views

For what values of k the following matrix isa reduced row echeleon form?[12 k2 -...

Accounting
1.2K views

(a) On March 3, Cornwell Appliances sells $680,000 of its receivables to Marsh Factors Inc....

Accounting
1.2K views

3. On November 12th, Nutritious Pet Food Company's board of directors declares a...

Accounting
1.2K views

value of c? N J 6 98.13 = 300+ 6...

Accounting
1.2K views

Ernie owns his own online life coaching business. Ernie would like to grow his revenues...

Accounting
1.2K views

Broadway Ltd. purchased equipment on January 1, 2019, for $840,000, estimating a six-year useful life...

Finance
1.2K views

please help me with my homework!!! asappp thank you!! ...

Finance
1.2K views

Q1 Answer the questions below using the following information on stocks A, B, and C....