Multiple Choice
The inventory method that assumes the recent goods are sold first is:
A) LIFO.
B) FIFO.
C) weighted-average.
D) specific invoice.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q12: Mack Industries uses the perpetual inventory system.
Q13: In a perpetual inventory system, Merchandise Inventory
Q14: Shayla's Design uses a periodic inventory system.
Q15: A purchases journal may be used to
Q16: A credit customer purchased $800 worth of
Q18: Barry's Books uses a periodic inventory system.
Q19: The _ method assumes the goods purchased
Q20: The gross profit method is used to
Q21: The following transactions took place during August
Q22: Mack Industries uses the perpetual inventory system.