11- Multiple Choice Question 72
Which one of the following inventory methods is often impractical to use?
LIFO FIFO Specific identification Average cost 12- Multiple Choice Question 132 Overstating ending inventory will overstate all of the following except net income. owner’ s equity. assets. cost of goods sold. 13- IFRS Multiple Choice Question 232 Under IFRS, companies can choose which inventory system? LIFO FIFO Yes No Yes Yes