Using either the FIFO and LIFO cost flow assumption will result in the same cost of goods sold when
a. the number of units in beginning and ending inventory are the same.
b. two consecutive years are combined.
c. the prices of the goods do not change.
d. lower-of-cost-or-market is applied.
e. none of the above
C
You might also like to view...
If the world price is $40, a specific tariff of $10 is equivalent to an ad valorem tariff of
a. $10. b. $20. c. 20 percent. d. 25 percent.
All of the following are true about the chromosomes of a multicellular organism EXCEPT:
A. Each chromosome is replicated into two chromatids during the S phase of interphase. B. All cells contain chromosomes that carry the same genetic information. C. Each chromosome separates into two daughter chromosomes by binary fission. D. They are made up of DNA and protein.
Explain the basic results that come from the restrict, project, and join functions
Sometimes, the term sample survey is used interchangeably with the term longitudinal design
Indicate whether the statement is true or false