Which inventory costing method most closely approximates current cost for each of the following

60.Which inventory costing method most closely approximates current cost for eachof the following:Ending InventoryCost of Goods Solda.FIFOFIFOb.FIFOLIFOc.LIFOFIFOd.LIFOLIFO 45.Which inventory costing method most closely approximates current cost for each of thefollowing:Ending InventoryCost of Goods Solda.FIFOFIFOb.FIFOLIFOc.LIFOFIFOd.LIFOLIFO

A) Ending Inventory Cost of Goods Sold FIFO

FIFO

B) Ending Inventory Cost of Goods Sold LIFO

LIFO

C) Ending Inventory Cost of Goods Sold FIFO

LIFO

D) Ending Inventory Cost of Goods Sold LIFO

FIFO

Answer: C

45.Which inventory costing method most closely approximates current cost for each of thefollowing:Ending InventoryCost of Goods Solda.FIFOFIFOb.FIFOLIFOc.LIFOFIFOd.LIFOLIFO

<p> </p> <p><em><strong>                    </strong></em></p> <p><em><strong>Cost of Goods Sold        Ending inventory</strong></em></p> <p><em><strong>           a) LIFO                                  FIFO</strong></em></p> <p><em><strong>          b) LIFO                                     LIFO</strong></em></p> <p><em><strong>           c) FIFO                                   FIFO</strong></em></p> <p><em><strong>           d) FIFO                                        LIFO</strong></em></p>

Accounting Financial Accounting

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<p> </p> <p><em><strong>                    </strong></em></p> <p><em><strong>Cost of Goods Sold        Ending inventory</strong></em></p> <p><em><strong>           a) LIFO                                  FIFO</strong></em></p> <p><em><strong>          b) LIFO                                     LIFO</strong></em></p> <p><em><strong>           c) FIFO                                   FIFO</strong></em></p> <p><em><strong>           d) FIFO                                        LIFO</strong></em></p>

Accounting Financial Accounting

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P60.Which inventory costing method most closely approximates current cost for each of thefollowing:Ending InventoryCost of Goods Solda.FIFOFIFOb.FIFOLIFOc.LIFOFIFOd.LIFOLIFO61.In situations where there is a rapid turnover, an inventory method which produces abalance sheet valuation similar to the first-in, first-out method is62.The pricing of issues from inventory must be deferred until the end of the accountingperiod under the following method of inventory valuation:63.An inventory pricing procedure in which the oldest costs incurred rarely have an effect onthe ending inventory valuation is64.Which method of inventory pricing best approximates specific identification of the actualflow of costs and units in most manufacturing situations?a. Average costb. First-in, first-outc. Last-in, first-outd. Base stockDelivered to you by tbsresources.wix.com/tbsresources
45.Which inventory costing method most closely approximates current cost for each of thefollowing:Ending InventoryCost of Goods Solda.FIFOFIFOb.FIFOLIFOc.LIFOFIFOd.LIFOLIFO

<p> </p> <p><em><strong>                    </strong></em></p> <p><em><strong>Cost of Goods Sold        Ending inventory</strong></em></p> <p><em><strong>           a) LIFO                                  FIFO</strong></em></p> <p><em><strong>          b) LIFO                                     LIFO</strong></em></p> <p><em><strong>           c) FIFO                                   FIFO</strong></em></p> <p><em><strong>           d) FIFO                                        LIFO</strong></em></p>

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