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What is the inventory costing method that charges the most recent costs incurred against revenue?
Wiki User
∙ 12y ago
LIFO
Wiki User
∙ 12y ago
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The inventory costing method that is based on the assumption that costs should be charged against revenue in the order in which they were incurred is?
FIFO
What are the differences between Absorption Costing and Variable Costing?
VARIABLE COSTING VERSUS ABSORPTION COSTINGAbsorption costing applies all manufacturing overhead to production costs while they flow through Work-in-Process Inventory, Finished-Goods Inventory and expenses on the income statement while Variable Costing only applies variable manufacturing overhead.Fixed manufacturing overhead is expensed immediately as it is incurred under variable costing while it is inventoried until the accounting period during which the manufactured goods are sold under absorption costing.
Material-Costing quantitative tools of Inventory management?
answer me the following question Material-Costing Quantitative tools of Inventory Management?
Inventory costing methods place primary emphasis on assumptions about?
Inventory costing methods place primary emphasis on assumptions about flow of costs.
The inventory costing method that reflects the cost flow in the reverse order and will report the earliest costs in ending inventory is?
The inventory costing method that reflects the cost flow in the reverse order and will report the earliest costs in ending inventory is last in first out. This makes use of a perpetual inventory system.
What is the inventory costing method that charge the most recent incurred against revenue?
LIFO
The inventory costing method that is based on the assumption that costs should be charged against revenue in the order in which they were incurred is?
FIFO
The inventory costing method that reflects a cost flow that is in the order in which the costs were incurred and will report the most current prices in ending inventory is?
First in first out
What are the differences between Absorption Costing and Variable Costing?
VARIABLE COSTING VERSUS ABSORPTION COSTINGAbsorption costing applies all manufacturing overhead to production costs while they flow through Work-in-Process Inventory, Finished-Goods Inventory and expenses on the income statement while Variable Costing only applies variable manufacturing overhead.Fixed manufacturing overhead is expensed immediately as it is incurred under variable costing while it is inventoried until the accounting period during which the manufactured goods are sold under absorption costing.
Material-Costing quantitative tools of Inventory management?
answer me the following question Material-Costing Quantitative tools of Inventory Management?
Inventory costing methods place primary emphasis on assumptions about?
Inventory costing methods place primary emphasis on assumptions about flow of costs.
The inventory costing method that reflects the cost flow in the reverse order and will report the earliest costs in ending inventory is?
The inventory costing method that reflects the cost flow in the reverse order and will report the earliest costs in ending inventory is last in first out. This makes use of a perpetual inventory system.
The selection of an inventory costing method has no significant impact on the financial statements true or false?
The selection of an inventory costing method has no significant impact on the financial statements. true or false
The consistent application of an inventory costing method enhances?
accuracy
Why are incidental costs sometimes ignored in inventory costing?
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What inventory costing method that assigns the most recent costs to the most recently sold inventory?
LIFO - Last In First Out
Is the inventory costing method that assigns the most recent costs to the most recently sold inventory?
LIFO - Last In First Out
