Question

A method of allocating merchandise cost that assumes the first merchandise bought was the first merchandise sold is called the

Answer 1

First - in - First - Out (FIFO) method

Step-by-step explanation:

The First - in - First - Out (FIFO) method, assumes that the first goods received by the business will be the first ones to be delivered to the final customer.

It assumes that goods have been used in the order in which they are purchased.