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Navas 27 April 2020 at 14:18 PM

Question 10	The advantage of the last-in, first-out inventory method is based on the assumption that
	A) The most recently incurred costs should be allocated to the cost of goods sold.
	B) Costs should be charged to cost of goods sold at average cost.
	C) costs should be charged to revenue in the order in which they are incurred.
	D) current costs should be based on representative or normal conditions of efficiency and volume of
	operations.

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FACULTY 18 May 2020 at 06:31 PM

The most recently incurred costs should be allocated to the cost of goods sold.(option A)

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