Which of the following is not a common cost flow assumption used in costing inventory?
A) First-in first-out
B) Middle-in first-out
C) Last-in first-out
D) Average cost

Question

Quizplus · Accepted Answer

Middle-in first-out is not a common cost flow assumption used in costing inventory. The most common cost flow assumptions used are first-in first-out (FIFO), last-in first-out (LIFO), and average cost.

Which of the Following Is Not a Common Cost Flow