A method of valuing the cost of goods sold that uses the cost of the oldest items in inventory first. What is it?
a. FIFO
b. LIFO
c. Weighted Average
d. Specific method
e. None of these
Answer: A
A method of valuing the cost of goods sold that uses the cost of the oldest items in inventory first. What is it?
a. FIFO
b. LIFO
c. Weighted Average
d. Specific method
e. None of these
Answer: A
If the answers is incorrect or not given, you can answer the above question in the comment box. If the answers is incorrect or not given, you can answer the above question in the comment box.