A corporation is starting to produce watches with electronic personal assistant capabilities.Generally,a business producing this type of product will want to elect the LIFO inventory method.

Question

Quizplus · Accepted Answer

The inventory method chosen by a business producing a particular product is not dependent on the type of product produced but on the specific needs and goals of the business. The LIFO method may or may not be suitable for the corporation producing watches with electronic personal assistant capabilities.

A Corporation Is Starting to Produce Watches with Electronic Personal