Which of the following is not an acceptable method of determining inventory cost under GAAP?
A)FIFO.
B)LIFO.
C)Average cost.
D)All of the choices are acceptable.

Name: Which of the following is not an acceptable method of determining inventory cost under GAAP? A)FIFO. B)LIFO. C)Average cost. D)All of the choices are acceptable.
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Question

Quizplus · Accepted Answer

All three methods (FIFO, LIFO, and Average Cost) are acceptable under GAAP, so D is the correct answer.

Which of the Following Is Not an Acceptable Method of Determining