FIFO and LIFO measures of cost of goods sold and inventories are examples of calculations rather than measurements.

Name: FIFO and LIFO measures of cost of goods sold and inventories are examples of calculations rather than measurements.
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Quizplus · Accepted Answer

FIFO and LIFO methods involve calculations based on assumptions about the flow of inventory, rather than direct measurements of actual costs or quantities. Therefore, they are considered examples of calculations rather than measurements.

FIFO and LIFO Measures of Cost of Goods Sold and Inventories