In a period of rising prices, which of the following inventory methods generally results in the lowest gross margin figure?
a. Cannot tell without more information
b. LIFO
c. FIFO
d. Average-cost
B
Business
You might also like to view...
Where a 1:M association exists between tables, the primary key of the 1 side is embedded in the table of the M side
Indicate whether the statement is true or false
Business
A choice between internal and external production is a make-or-buy decision
Indicate whether the statement is true or false
Business
Participants need not take notes during a meeting
Indicate whether the statement is true or false
Business
Which of the following is NOT true about a limited liability company?
a. It is a noncorporate business organization. b. In most states, an LLC must have at least two members. c. It may elect not to be a separate taxable entity. d. An ownership interest may be considered a security.
Business