A method of allocating merchandise cost that assumes the sales in the period were made from the recently purchased merchandise and its earliest merchandise bought remains in the inventory is called the
a. last-in, first-out method.
b. first-in, first-out method.
c. specific identification method.
d. weighted-average method.
a
You might also like to view...
Which of the following is a disadvantage of a team-based approach to new product development?
A) It takes longer for the development of a new product. B) The development effort is not as effective because of employee inexperience. C) It decreases the efficiency of the new product development process. D) It results in organizational confusion and tension. E) The process does not work with the shorter life cycles of many of today's products.
The gross profit margin and net profit margin for Dana Dairy Products in 2013 were ________. (See Table 3.2)
A) 13 percent and 0.9 percent, respectively B) 13 percent and 1.5 percent, respectively C) 2 percent and 0.9 percent, respectively D) 2 percent and 1.5 percent, respectively
There is no difference on an economic basis between a stock dividend and a stock split
Indicate whether the statement is true or false
The technical section of the proposal is to convince the customer that the contractor
a. is charging a price for the proposed project that is reasonable and realistic. b. understands the need or problem and can provide the least risky and most beneficial solution. c. can do the proposed work and achieve the intended results. d. knows the technical terms and can follow the correct techniques to solve the problem.