MCQs > Finance & Management > Generally Accepted Accounting Principles (GAAP) > In which of the following inventory valuation methods is the oldest cost of goods sold (COGS) entry processed first?

Generally Accepted Accounting Principles (GAAP) MCQs

In which of the following inventory valuation methods is the oldest cost of goods sold (COGS) entry processed first?

Answer

Correct Answer: FIFO

Explanation:

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Overall Skill Level-Poor

Your Skill Level: Poor

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