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Question 111 - MB-330 discussion

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A company has items in inventory with two costing methods: FIFO and Standard.

The company needs to calculate the cost of all items at month end and provide a total inventory value to the finance department.

You need to determine the total value of inventory.

Which costing method requires running the inventory close?

A.

FIFO and Standard Cost items

Answers
A.

FIFO and Standard Cost items

B.

FIFO items only

Answers
B.

FIFO items only

C.

LIFO, Moving Average, and Date Weighted Average items

Answers
C.

LIFO, Moving Average, and Date Weighted Average items

D.

Standard Cost items only

Answers
D.

Standard Cost items only

Suggested answer: A
asked 05/10/2024
Lakshmana Mittadoddi
39 questions
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