Which inventory costing method results in the highest inventory balance during a period of rising prices?
a. Weighted average cost
b. FIFO
c. LIFO
d. Both FIFO and LIFO result in the same inventory balance
b
You might also like to view...
A company mu?st adjust the consideration for the time value of money if the time period between the customer's payment and the company's transfer of goods or services is more than three months
Indicate whether the statement is true or false
Which of the following is a disadvantage of using too many short sentences?
A) Short sentences can lack punch. B) Short sentences can lack informative power. C) Short sentences are harder to understand. D) Short sentences are harder to skim for key points. E) Short sentences make writing feel disconnected.
Incurring actual indirect factory wages in excess of budgeted amounts for actual production results in a:
A) quantity variance B) controllable variance C) volume variance D) rate variance
At common law, the risk of loss or damage to goods identified under a contract of sale falls upon:
a. the buyer. b. the seller. c. the party who had title or ownership of the goods at the time of the loss or damage. d. the designated party as determined by the court.