Inventory costing methods rely heavily on assumptions about the flow of costs. The most widely used inventory valuation method is the FIFO method.
FIFO (First-In, First-Out), LIFO (Last-In, First-Out), Specific Identification, and Weighted Average Cost are the 4 major Inventory costing methods. If your inventory costs are steady or increasing, LIFO is the better option. Businesses with bigger inventories and rising costs appreciate how LIFO reduces profits and taxes while increasing cash flow. If your inventory costs are decreasing, FIFO is the better option.
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The correct answer is A. Not secure.
Answer: Gross national product (GNP)
Explanation: Gross domestic produce refers to the market value of all final goods and service produced withing the domestic territory of a country. It considers where the production occurs. While, GNP refers to the market value of final goods produced by factors of production owned by a country's residents. Thus, GNP considers who is responsible for the production.
Thus, correct option is <em>Gross National Product</em> (<em>GNP</em>).
