Which of the following inventory cost flow assumptions produces the same ending inventory values under both the periodic and perpetual systems?
A)FIFO
B)LIFO
C)average
D)dollar-value LIFO

Question

Quizplus · Accepted Answer

FIFO (First-In, First-Out) produces the same ending inventory values under both the periodic and perpetual systems because the order in which costs are removed from inventory does not depend on the timing of sales.

Which of the Following Inventory Cost Flow Assumptions Produces the Same