The selection of an appropriate inventory cost flow assumption for an individual company is made by

Question

Quizplus · Accepted Answer

The selection of an appropriate inventory cost flow assumption is ultimately made by management, as they are responsible for managing the company's finances and ensuring the accuracy of financial statements. The external auditors and SEC may review and provide guidance on the selection, but the final decision rests with management. Internal auditors may also provide recommendations, but again, management has the ultimate responsibility for the selection.

The Selection of an Appropriate Inventory Cost Flow Assumption for an Individual