Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

The inventory method that will yield the same inventory value and cost of goods sold whether a perpetual or periodic system is used is ?

a) Average cost

b) first-in, first out

c) last-in, first-out

d) either first-in, first-out or last-in, first-out

user-image
Question added by Deleted user
Date Posted: 2016/03/28
Abdallah Osama Ibrahim
by Abdallah Osama Ibrahim , Chief Accountant , Moore Stephens - Egypt

Answer A is correct (Average cost)

 

HASSAN AHMED
by HASSAN AHMED , Internal Auditor , TIE

the correct answer is "Average Cost"

Deleted user
by Deleted user

Option  b is the right answer . FIFO 

Tamer Elbeshbishy
by Tamer Elbeshbishy , Financial and Administration Manager , Muscat Towers Holding Group

Of-course the answer is a Average Cost

Zeshan Arshad
by Zeshan Arshad , Account Officer , Din Textile Mills

the answer is a. average cost

More Questions Like This