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Basic Question 20 of 24
Under which cost flow assumption is the ending inventory composed of the earliest purchased merchandise?
B. LIFO
C. Average Cost
A. FIFO
B. LIFO
C. Average Cost
User Contributed Comments 1
| User | Comment |
|---|---|
| choas69 | EARLIEST IS CONFUSING |
I used your notes and passed ... highly recommended!
Lauren
Learning Outcome Statements
describe general principles of expense recognition, specific expense recognition applications, implications of expense recognition choices for financial analysis and contrast costs that are capitalized versus those that are expensed in the period in which they are incurred
CFA® 2024 Level I Curriculum, Volume 2, Module 2.