Cost flow is assumed to be in the reverse order of costs incurred. A) Weighted average...

 

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Cost flow is assumed to be in the reverse order of costs incurred. A) Weighted average B) First-in, first-out (FIFO) C) Last-in, first-out (LIFO) D) Specific identification Cost flow is assumed to be in the reverse order of costs incurred. A) Weighted average B) First-in, first-out (FIFO) C) Last-in, first-out (LIFO) D) Specific identification

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Correct answer c LIFO Explanation Inventory which is reported as current assets under stateme... View the full answer