FIFO,LIFO,and Weighted Average Inventory Costing Methods Are Based On

Multiple Choice

FIFO,LIFO,and weighted average inventory costing methods are based on:

A) assumptions that accountants make about the flow of inventory costs.
B) the actual physical flow of goods purchased and sold by a business.
C) surveys taken that ask real companies how they value their inventories.
D) the accounting equation (assets = liabilities + stockholders' equity) .