Question

AutoSave Off second exam.. Zakari, SaluS File Home Insert Design Layout References Mailings Review View Help Grammarly L 6 5 4- 3- 2 21) Which of the following inventory valuation methods should be used for undque items? A) specific identfication C) weighted-average 21) B) last-in, first-out D) first-in, first-out 22) Which of the following inventory costing methods uses the cost of the oldest purchases to compute the cost of goods sold? A) last-in, first-out first-in, first-out 22) B) specific identification D) weighted-average 23) Under which of the following inventory costing methods is the ending inventory based on the costs of the most recent purchases? A) weighted-average C) last-in, first-out 23) B) specific identification D) first-in, first-out 24) Which of the following inventory costing methods yields the highest cost of goods sold during a period of rising inventory costs? A) last-in, first-out C) specific identification 24) B) weighted-average D) first-in, first-out 25) Which of the following inventory costing methods yields the lowest cost of goods sold during a 25) period of rising inventory costs? ys he B) first-in, first-out D) last-in, first-out A) weighted-average C) specific identification ofit the Page 3 of 8 93 Focus 2465 words C English (United States) to 100% 11:13 AM ENG 11/7/2019 a hp

Answer 1

21.

Specific identification inventory valuation methods should be used for unique item

Correct option is (A)

22.

First in, first out inventory costing methods uses the cost of the oldest purchases to compute the cost of goods sold.

Correct option is (C)

23.

First in, first out inventory costing methods is the ending inventory based on the costs of the most recent purchases.

Correct option is (D)

24.

Last in, first out inventory costing method yields the highest cost of goods sold during a period of rising inventory costs.

Correct option is (A)

25.

First in, first out inventory costing method yields the lowest cost of goods sold during a period of rising inventory costs.

Correct option is (B)

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