Which of the following statements is not true as it relates to the dollar-value LIFO inven?tory method?
A) It is easier to erode LIFO layers using dollar-value LIFO techniques than it is with specific goods pooled LIFO.
B) Under the dollar-value LIFO method, it is possible to have the entire inventory in only one pool.
C) Several pools are commonly employed in using the dollar-value LIFO inventory method.
D) Under dollar-value LIFO, increases and decreases in a pool are determined and measured in terms of total dollar value, not physical quantity.

Question

Quizplus · Accepted Answer

This statement is not true. In fact, it is more difficult to erode LIFO layers using dollar-value LIFO techniques than it is with specific goods pooled LIFO, as the latter allows for more specific identification and tracking of inventory.

Which of the Following Statements Is Not True as It