LIFO refers to the cost flow for units sold. The parallel description for ending inventory is ____________.
Correct Answer: FISH
Explanation:
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More Inventory Management MCQ Questions
Partially completed products in the factory are called _________________ .
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The account title and the term that designates acquisition of merchandise during the accounting period is called ___________________ .
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FIFO refers to the cost of the units sold. The parallel description for ending inventory is ____________.
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The ______________________ is the estimated selling price of the inventory less any estimated costs for making the item ready for sale and actually selling it.