A company decides which inventory amounts to record to cost of goods sold and which amounts remain in ending inventory: Multiple Choice Through application of the cost-benefit constraint. By selecting one of four possible inventory costing methods. By selecting the cost principle. Through application of the conservation constraint principle. Is the lower of cost or market principle.

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Business

Crystal Gordon

18 January, 13:17

A company decides which inventory amounts to record to cost of goods sold and which amounts remain in ending inventory: Multiple Choice Through application of the cost-benefit constraint. By selecting one of four possible inventory costing methods. By selecting the cost principle. Through application of the conservation constraint principle. Is the lower of cost or market principle.

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Philip · Answer 1

Answer: By selecting one of four possible inventory costing methods

Explanation : In simple words, inventory costing methods refers to the different ways and rules that are applicable as per the accounting standards to record the information regarding inventory.

The inventory costing methods available are FIFO, LIFO, Weighted average, special identification.

Hence frOm the above we can conclude that the correct statement is B.