Asked Dec 21, 2019

Which inventory costing method assigns to ending merchandise inventory the newest— the most recent—costs incurred during the period?

  • First-in, first-out (FIFO)
  • Weighted-average
  • Specific identification
  • Last-in, first-out (LIFO)

Expert Answer

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Inventory Accounting Systems: Merchandise operation is an operation undertaken by the company to conclude sales of goods to the customer. The business must take into account its total inventory value. It needs to identify the worth of merchandise inventory.


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