Which of the following inventory costing procedures requires a physical count of merchandise a minimum of once a year at year end?

Question

Quizplus · Accepted Answer

The question specifically states that a physical count of merchandise is required at least once a year for inventory costing procedures. Therefore, the correct answer is D, as this is the only option that correctly reflects this requirement. Option A (LIFO method), B (average cost method), and C (FIFO method) may have their own specific requirements or calculations, but none of them specify the need for a physical count at least once a year.

Which of the Following Inventory Costing Procedures Requires a Physical