Accountıng I Deneme Sınavı Sorusu #1313847

I.Last-in, First-out (LIFO) is just the opposite of FIFO

II.The cost of goods sold is based on the most recent purchases

III.This method is also used in hyperinflationary economies

Which one/ones is/are correct about Last-In, First-Out (LIFO) Method?

Only I

I-II

I-III

II-III

I-II-III

Yanıt Açıklaması:

The cost of goods sold is based on the most recent purchases (new costs) –that is, the last units in are assumed to be the first units out of the warehouse (sold). This
method is forbidden for being misleading especially in hyperinflationary economies.

PAYLAŞ:

SORUNUN CEVABI: B

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Accountıng I Deneme Sınavı Sorusu #1313847

I.Last-in, First-out (LIFO) is just the opposite of FIFO II.The cost of goods sold is based on the most recent purchases III.This method is also used in hyperinflationary economies Which one/ones is/are correct about Last-In, First-Out (LIFO) Method?

SORUNUN CEVABI: B

Yorumlar

I.Last-in, First-out (LIFO) is just the opposite of FIFO

II.The cost of goods sold is based on the most recent purchases

III.This method is also used in hyperinflationary economies

Which one/ones is/are correct about Last-In, First-Out (LIFO) Method?