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What cost of inventories that not ordinarily interchangeable

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Reference no: EM132969889

Problem 1: The cost of inventories that are not ordinarily interchangeable and goods produced and segregated for specific projects shall be measured using:

a) FIFO

b) Average method

c) LIFO

d) Specific identification

Problem 2: Under the retail inventory method, freight in would be included in the calculation of the goods available for sale for which of the following?

Cost Retail

a) No No

b) No Yes

c) Yes No

d) Yes Yes

 

Reference no: EM132969889

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