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IIA Exam IIA-CIA-Part3 Topic 10 Question 27 Discussion

Actual exam question for IIA's IIA-CIA-Part3 exam

Question #: 27
Topic #: 10

All of the following are true with regard to the first-in, first-out inventory valuation method except:

AIt values inventory close to current replacement cost.

BIt generates the highest profit when prices are rising.

CIt approximates the physical flow of goods.

DIt minimizes current-period income taxes.

Show Suggested Answer

Suggested Answer: D

by Eun at May 03, 2022, 10:25 AM

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