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Which one of the following is not a method of assigning costs to the ending inventory and cost of goods sold?

A)   FIFO

B)    LIFO

C)    Average cost

D)   Specific identification method

E) None

Accounting Cost Accounting Financial Accounting Financial Management
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Question added by Ahmed Abdi Mahad , Director of Internal Auditing Directorate , Jigjiga University
Date Posted: 2015/05/08
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Saidul Alam
by Saidul Alam , Accountant , Akhtar Al Balushi Trad. & Cont. L.L.C

Option D , because all other are the method of inventory calculation, although LIFO method is not applicable now.

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