Cost of goods available for sale is always the same regardless of the inventory cost flow assumption in use.

Name: Cost of goods available for sale is always the same regardless of the inventory cost flow assumption in use.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

While purchases for the period are not dependent upon the cost flow method,cost of goods available for sale = Beginning inventory + purchases and beginning inventory is affected by the cost flow assumption in use.

Cost of Goods Available for Sale Is Always the Same