The choice of an inventory costing method has no significant impact on the financial statements.

Question

Quizplus · Accepted Answer

The inventory costing method can have a significant impact on the financial statements, particularly on the cost of goods sold and ending inventory values. Different methods can result in different calculations of these values, which can affect important financial ratios such as gross profit margin and inventory turnover.

The Choice of an Inventory Costing Method Has No Significant