USA LIFO inventory valuation method


Joined
Nov 5, 2020
Messages
2
Reaction score
0
Country
United States
Which of the following descriptions corresponds with the LIFO inventory valuation method?

A.)
Earliest goods purchased remain in inventory
B.)
Works best when inventory items are identical and intermingled
C.)
Practical for businesses that have very low inventory
D.)
The first goods purchased are the first to be sold
 
Ad

Advertisements

Ian

Administrator
Joined
Jun 28, 2007
Messages
76
Reaction score
5
Country
United Kingdom
Please note that if you are looking for assistance with an exam-style question, you must attempt the question yourself before asking for help. You can then state the answer you have so far and explain which aspect you need help with. Anyone posting exam-style questions expecting the answer to be given to them will have their posts removed. Repeat offenders will be banned from the forum.
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Similar Threads

Valuation 0
USA LIFO inventory 0
Inventory Valuation method - Only FIFO? 1
Inventory valuation 4
Inventory Valuation 5
inventory valuation 3
USA PS Valuation 0
USA Asset valuation in divorce 0

Top