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    College Accounting Study Set 2
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    Exam 15: Accounting for Merchandise Inventory
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    This Method Assumes That the Oldest Goods Are Sold First
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This Method Assumes That the Oldest Goods Are Sold First

Question 60

Question 60

Multiple Choice

This method assumes that the oldest goods are sold first.


A) LIFO
B) FIFO
C) Specific invoice method
D) Weighted-average method

Correct Answer:

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