Method of inventory recording gives lower cost of goods sold in income statement is classified as______________?

Academy of PakistanTest & Learning

804Active Users

Academy of PakistanTest & Learning

804Active Users

334FinanceMedium

AFirst out receivable

BLast out receivable

CFirst in first out

DLast in first out

Correct answer

C. First in first out

Explanation

First in first out is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.

Method of inventory recording gives lower cost of goods sold in income statement is classified as______________? - Answer and Explanation | Academy of Pakistan