Question: FIFO, LIFO, and weighted average inventory costing methods are based on: A. assumptions that accountants make about the flow of inventory costs. B. the actual

FIFO, LIFO, and weighted average inventory costing methods are based on: A. assumptions that accountants make about the flow of inventory costs. B. the actual physical flow of goods purchased and sold by a business. C. surveys taken that ask real companies how they value their inventories. D. the accounting equation (assets = liabilities + stockholders' equity

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