question #48 Indicate whether the following statement is true or false. Under the FIFO method, each...

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Answer 1

Answer #1

Correct answer------false.

.

Most listened layer is applied for cost of goods sold in the case of last in first out (LIFO) not in first in first out(FIFO) .

In case of FIFO the layer or units purchased first are applied for cost of goods sold.

Answer 2

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