Question: Multiple Select Question Select all that apply Which of the following statements are true? According to GAAP, the cost flow assumption used by companies must

Multiple Select Question
Select all that apply
Which of the following statements are true?
According to GAAP, the cost flow assumption used by companies must correspond to the actual physical flow of inventory.
According to GAAP, the cost flow assumption used by companies does not have to correspond to the actual physical flow
of inventory.
The FIFO cost flow assumption always results in the highest cost of goods sold amount.
If the cost of inventory never changed, all three cost flow assumptions would yield the same financial statement results.
Multiple Select Question Select all that apply Which of the following

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