Which one of the following inventory costing methods is supposed to issue the most recently purchased goods?
A. FIFO
B. LIFO
C. AVCO or averrage cost
D. Moving average
Answer: Option B
Solution(By Examveda Team)
LIFO inventory costing methods is supposed to issue the most recently purchased goods. LIFO, which stands for last-in-first-out, is an inventory valuation method which assumes that the last items placed in inventory are the first sold during an accounting year.Related Questions on Accounting
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