A)
Ending Inventory
Cost of Goods Sold
FIFO
FIFO
B) Ending Inventory Cost of Goods Sold LIFO
LIFO
C) Ending Inventory Cost of Goods Sold FIFO
LIFO
D) Ending Inventory Cost of Goods Sold LIFO
FIFO
Answer: C
45.Which inventory costing method most closely approximates current cost for each of thefollowing:Ending InventoryCost of Goods Solda.FIFOFIFOb.FIFOLIFOc.LIFOFIFOd.LIFOLIFO<p> </p> <p><em><strong> </strong></em></p> <p><em><strong>Cost of Goods Sold Ending inventory</strong></em></p> <p><em><strong> a) LIFO FIFO</strong></em></p> <p><em><strong> b) LIFO LIFO</strong></em></p> <p><em><strong> c) FIFO FIFO</strong></em></p> <p><em><strong> d) FIFO LIFO</strong></em></p>
Accounting Financial Accounting
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<p> </p> <p><em><strong> </strong></em></p> <p><em><strong>Cost of Goods Sold Ending inventory</strong></em></p> <p><em><strong> a) LIFO FIFO</strong></em></p> <p><em><strong> b) LIFO LIFO</strong></em></p> <p><em><strong> c) FIFO FIFO</strong></em></p> <p><em><strong> d) FIFO LIFO</strong></em></p>
Accounting Financial Accounting
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