Question: Which statement about inventory is true ? GAAP requires that the cost flow assumption used for inventory ( LIFO , FIFO, average - cost )

Which statement about inventory istrue?
GAAP requires that the cost flow assumption used for inventory (LIFO, FIFO, average-cost) must match the physical movement of the goods.
Highland Company sold and shipped 2,000 units on December 31(terms: FOB destination). The buyer received the goods on January 4. Highland Company should include these units in its December 31 ending inventory count.
Freight costs incurred to acquire inventory aren't included in the cost of inventory purchased.
A dealer sells goods on consignment. These consigned goods should be included in the dealer's inventory when an inventory count is performed.

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