Which inventory costing method will produce an amount for cost of goods sold that is closest to current market value?
A)Weighted average.
B)Specific identification.
C)FIFO.
D)LIFO.

Name: Which inventory costing method will produce an amount for cost of goods sold that is closest to current market value? A)Weighted average. B)Specific identification. C)FIFO. D)LIFO.
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Question

Quizplus · Accepted Answer

LIFO will produce cost of goods sold that is based on the most recent purchases.

Which Inventory Costing Method Will Produce an Amount for Cost