Inventory costing methods are influenced by industry practice and the types of merchandise available for sale.

Question

Quizplus · Accepted Answer

Inventory costing methods can vary based on industry practices, as some industries may have specific regulations or standards for costing inventory. Additionally, the type of merchandise being sold (such as perishable goods vs. durable goods) can also impact the costing method used.

Inventory Costing Methods Are Influenced by Industry Practice and the Types