Asked by Misael Aneuris on Jul 26, 2024
Verified
Rarely used with a perpetual inventory system
A)FIFO
B)LIFO
C)Weighted average
Perpetual Inventory
An inventory management system that updates item records on a continuous basis as transactions occur, providing real-time inventory levels.
Weighted Average
A calculation that takes into account the varying degrees of importance of the numbers in a dataset, often used in accounting to determine inventory costs.
Cost Flow Assumption
An accounting assumption used to value and manage inventory by determining the cost of goods sold and ending inventory.
- Learn about the diverse assumptions made about cost flow and their implementation in inventory valuation.
Verified Answer
ZK
Learning Objectives
- Learn about the diverse assumptions made about cost flow and their implementation in inventory valuation.