Question: 7 ) first In , First Out: a ) Often parallels actual physical flow of merchandise b ) Companies determine cost of ending inventory by

7) first In, First Out:
a)Often parallels actual physical flow of merchandise
b)Companies determine cost of ending inventory by taking unit cost of most recent purchase and working backward until all units of inventory have been costed
c)Costs of earliest goods purchased are first to be recognized in determining cost of goods sold
d) are a part of First In, First out
e)Only two parts are part of First In, First Out
f)All are a part of First In, First Out

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