Which the cost of goods sold reported on income statement

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Reference no: EM132703512

Problem 1: When prices are? falling, the cost of goods sold reported on the income statement on a? weighted-average basis is generally? _______.

A. greater than on a FIFO basis

B. equally likely to be higher or lower on a? weighted-average basis as opposed to a FIFO basis

C. lower than on a FIFO basis

D. equal to ending inventory reported on a FIFO basis

Reference no: EM132703512

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