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your web page. Inventories and Cost of sales
Which of the following statements regarding the perpetual LIFO inventory method is true quizlet?Which of the following statements regarding the perpetual LIFO inventory method is true? the cost of the units sold is the cost of the most recent purchases.
Which statement is true about a perpetual inventory system?a- LIFO cost of goods sold will be the same as in a periodic inventory system.
Which of the following is a benefit of using a computerized perpetual inventory system quizlet?Costs are included in the cost of goods sold in the order in which units were purchased. Which of the following is a benefit of using a computerized perpetual inventory system? Sales patterns can be analyzed easily when using computerized perpetual inventory systems.
What is the FIFO method quizlet?First In, first out - means that the goods first added to inventory are assumed to be the first gooded removed from inventory for sale. Last in, first out - means that the most recent goods , or last goods added to inventory are assumed to be the first goods removed from inventory for sale.
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