Accountıng I Deneme Sınavı Sorusu #1132447
Which of the followings assumes that the earliest goods purchased are the first to be sold?
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Lower of Cost or Market Value Method (LCM) |
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Specific Identification Method |
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Average Cost Method |
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First-In, First-Out (FIFO) Method |
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Last-In, First-Out (LIFO) Method |
Yanıt Açıklaması:
First-In, First-Out (FIFO) is an inventory costing method in which the first costs into inventory are the first costs out to cost of goods sold. Ending inventory is based on the costs of the most recent purchases.
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