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Which cost flow assumption assumes that the first units purchased are the first units sold? a. LIFO b. FIFO c. Specific identification d. Weighted average cost
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Which cost flow assumption assumes that the first units purchased are the first units sold? a. LIFO b. FIFO c. Specific identification d. Weighted average cost
asked
May 14, 2023
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Which cost flow assumption assumes that the first units purchased are the first units sold?
a. LIFO
b. FIFO
c. Specific identification
d. Weighted average cost
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The answer is b. FIFO
Meerkat
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May 21, 2023
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