Cost flow assumption that requires computation of a new average units cost after each purchaseGroup of answer choicesFIFOPerpetual Inventory methodSpecific IdentificationMoving Average method

A cost flow assumption that normally approximates the actual physical flow of the merchandise Group of answer choicesMoving AverageSpecific IdentificationAverage methodFIFO

The specific identification method of costing inventories is used when theGroup of answer choicesphysical flow of units cannot be determinedcompany sells large quantities of relatively low cost homogeneous itemscompany sells large quantities of relatively low cost heterogeneous itemscompany sells a limited quantity of high-unit cost items

Which inventory costing method assumes that inventory costs flow out in the opposite order from which the goods were purchased?Multiple choice question.periodicweighted averageperpetualLIFOspecific identificationFIFO

The weighted-average method assumes that:Multiple Choiceeach unit of inventory can be matched with its actual cost.the cost of goods sold consists of a random mixture of all goods available for sale.the first units purchased are the first ones sold.the last units purchased are the first ones sold.

A new average cost is computed each time a purchase is made in the Group of answer choicesaverage-cost methodmoving-average cost methodweighted-average cost methodall of these methods