The financial statements often contain a(n) ________ which describes the inventory pricing method and other details about the inventory.

Question

Quizplus · Accepted Answer

Footnotes are additional information or explanations provided in financial statements to provide more context and detail about certain aspects of the company's financial situation. In the case of inventory, a footnote would provide information about the method used to price the inventory, such as FIFO or LIFO, and any other relevant details.

The Financial Statements Often Contain A(n) ________ Which Describes the Inventory