Q77
According to which method of pricing issues is close to current economic values?
A.
Last In First Out
AnswerB.
First In First Out
C.
Highest In First Out
D.
weighted average price
Answer: Option A
Solution
Answer: Option A
Solution:
According Last In First Out method of pricing issues is close to current economic values. LIFO Accounting means inventory which was acquired last would be used up or sold first.