Inventory and COGS - Inventory flow
7 important questions on Inventory and COGS - Inventory flow
Why is inventory flow so important?
What is one important rule about a company's cost flow approach?
Which are the methods of assigning cost to items?
LIFO
FIFO
Weighted average
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Which two accounts are involved in assigning costs to items that are sold?
What sort of goods are best suited to a weighted average costing method?
What is a disadvantage of FIFO?
Which method of valuation is most conservative?
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