MCQs > Finance & Management > QuickBooks > When you have inventory items, QB's automatically uses the Average Cost, but you can change it to LIFO or FIFO.

QuickBooks MCQs

True or False: When you have inventory items, QB's automatically uses the Average Cost, but you can change it to LIFO or FIFO.

Answer

Correct Answer: True. The inventory value is determined by dividing the total value of inventory by the total number of inventor items.

Explanation:

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