Create an Account

Already have account?

Forgot Your Password ?

Home / Questions / FIFO income typically is less realistic compared to the net income under weighted-average

FIFO income typically is less realistic compared to the net income under weighted-average

 FIFO income typically is less realistic compared to the net income under weighted-average cost.

12) A company may use more than one type of inventory method.  For example it may use specific identification for one type of inventory and FIFO for another.

13) In Canada most companies use the FIFO method.

14) FIFO uses "old" inventory costs against revenue.

15) The specific unit cost method is frequently used for items with common characteristics, such as gallons of paint.

16) When using the weighted-average cost method to determine the cost of inventory, the weighted-average cost per unit is calculated as the cost of goods available for sale divided by the number of units available for sale.

Dec 07 2019 View more View Less

Answer (UnSolved)

question Get Solution

Related Questions