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a. The inventory items which are sold or consumed are those acquired most recently b. The inventory items which are sold or consumed are those acquired longest ago c. The inventory items which are sold or consumed are a mixture of those acquired in the last12 months d. Newer inventory items are sold or consumed before older inventory items
b is correct as FIFO inventory value attached to the most recent purchases which are left, that implies first bought items sold first
b. The inventory items which are sold or consumed are those acquired longest ago
