Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 7.which inventory costing method results in the lo

7.Which inventory costing method results in the lowest ending inventory during a period of rising...

80.2K

Verified Solution

Question

Accounting

7.Which inventory costing method results in the lowest ending inventory during a period of rising merchandise inventory cost?

Weighted-average

Specific identification

First-in, first-out (FIFO)

Last-in, first-out (LIFO)

8.Some companies account for purchases of equipment less than $500 as expenses instead of as assets. This policy is most closely linked to which accounting principle?

Conservatism

Lower-of-cost-or-market

Materiality concept

Consistency principle

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

Physics
1.2K views

Synchronous communication satellites are placed in a circular orbit that is 1.88 × 108 m above...

Physics
1.2K views

A circuit is constructed with four resistors, one inductor, one battery and a switch as shown....

Economics
1.2K views

The cost of health care is increasing at a rate higher than inflation. One popular suggestion...

Physics
1.2K views

Your classmate makes the following statement For a head on elastic collision between two object...

Physics
1.2K views

4 All of the above If a magnet of pole strength m is cut into...

Basic Math
1.2K views

Directions: Graph each function and give its key characteristics. Use a graphing calculator for the...

Basic Math
1.2K views

Use transformations of f(x)=x to graph the following function.g(x)=3(x+4)-5Select all the transformations that are needed...

Statistics
1.2K views

You intend to estimate a population mean with the following sample 31 42 5 39...

Algebra
1.2K views

Consider B ir Ma 3 what is Me B 1 and 1 A ve vc...

Algebra
1.2K views

Find the measure of each angle indicated 1 20

Algebra
1.2K views

Express Bi 2 in simplest a bi form

Accounting
1.2K views

mparative statements of financial position are presented below. mparative statements of financial position are presented...