Which of the following inventory costing methods is the LEAST likely to mimic the actual physical flow of inventory?

Name: Which of the following inventory costing methods is the LEAST likely to mimic the actual physical flow of inventory?
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Question

Quizplus · Accepted Answer

Last in, first out (LIFO) is the least likely to mimic the actual physical flow of inventory because it assumes that the most recently acquired items are sold first, which is not how most physical inventory systems operate.

Which of the Following Inventory Costing Methods Is the LEAST