When prices are constant, which of the following inventory cost formulas will lead to the lowest cost of goods sold figure?
A) FIFO
B) Specific Identification
C) Average
D) When prices are constant, all cost determination methods will yield the same cost of goods sold figure.

Question

Quizplus · Accepted Answer

When prices are constant, all inventory cost formulas (FIFO, Specific Identification, Average) will yield the same cost of goods sold figure because there is no variation in cost to affect the calculation differently.

When Prices Are Constant, Which of the Following Inventory Cost