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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

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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1 vote
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
User Red Cricket
by
7.5k points

1 Answer

3 votes
The answer is b. FIFO
answered
User Meerkat
by
8.3k points
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