Question: Which cost assumption method provides the most current, near - market cost of goods sold and the most realistic, near - market ending inventory value?
Which cost assumption method provides the most current, nearmarket cost of goods sold and the most realistic, nearmarket ending inventory value?
Group of answer choices
LIFO provides most current cost of goods sold while FIFO provides most realistic ending inventory value
Average Cost method aka Weighted Average provides most realistic COGS and Ending Inventory because it is based on averages
FIFO provides most current cost of goods sold while LIFO provides most realistic ending inventory value
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