Which inventory valuation method assigns a value to the inventory on the balance sheet that approximates current cost and also mimics the actual flow of goods for most businesses?
A)FIFO
B)Weighted average
C)LIFO
D)Specific identification
E)First in still here

Question

Quizplus · Accepted Answer

FIFO (First-In, First-Out) assigns a value to inventory that approximates current cost and mimics the actual flow of goods for most businesses, as it assumes the oldest inventory items are sold first.

Which Inventory Valuation Method Assigns a Value to the Inventory