Day 57 - 63% FAIL Flashcards
1
Q
Is warehousing cost chargeable to inventory?
A
No
It is not a “usual” cost
MCQ-04489
2
Q
Under US GAAP, which inventory method most closely approximates COGS and Ending Inventory costs?
A
COGS = LIFO
Ending inventory = FIFO
MCQ-00294
