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Dimas [21]
2 years ago
13

During a period of consistently rising prices, the method of inventory that will result in reporting the greatest cost of mercha

ndise sold is a.first-in, first-out b.average cost c.last-in, first-out d.weighted average
Business
1 answer:
poizon [28]2 years ago
3 0

Answer:

c. Last-In, First-Out. (FIFO)

Explanation:

Under FIFO method of Inventory, we assume that the recently purchase goods are sold first. During a period of consistently rising prices, the recently purchased goods will have a greater cost.

Thanks!

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When Jasmine interviewed for a position as a computer programmer, she was asked to take a test on a particular programming langu
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What is the highest level of authoritative rules for state and local government accounting?
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1 year ago
Oak Interiors is owned and operated by Fred Biggs, an interior decorator. In the ledger of Oak Interiors, the first digit of the
Kipish [7]

Answer:

Oak Interiors

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12 - Cash

13 - Accounts Receivable

17 - Land

21 - Accounts Payable

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32 - Fred Biggs, Drawing

41 - Fees Earned

51 - Supplies Expense

52 - Wages Expense

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Explanation:

a) Data and Classifications:

Digits and Accounts:

1—assets

12 - Cash

13 - Accounts Receivable

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32 - Fred Biggs, Drawing

4—revenues

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52 - Wages Expense

53 - Miscellaneous Expense

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Suppose a monopolist produces output where total revenue is maximized. at that output, the price elasticity of demand for the mo
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