Which method of inventory pricing best approximates specific identification of the actual flow of costs and units in most manufacturing situations?
a. Average cost
b. First-in, first-out
c. Last-in, first-out
d. Base stock
Answer: b. First-in, first-out
Business
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When a company acquires a long-term bond investment, by paying cash, total assets remain unchanged
Indicate whether the statement is true or false
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