The date of latest purchase method is a procedure for analyzing the cost of each separate block of stock acquired using data that pertains to the date at which each block of stock was acquired.

Question

Quizplus · Accepted Answer

The date of latest purchase method specifically refers to a procedure for valuing inventory or stock by using the cost of the most recently purchased items first, not by analyzing the cost of each separate block of stock based on acquisition dates.

The Date of Latest Purchase Method Is a Procedure for Analyzing