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Which method would provide a better matching of current costs with revenues in a declining price environment?

Practice Questions

1 question
Q1
Which method would provide a better matching of current costs with revenues in a declining price environment?
  1. FIFO
  2. LIFO
  3. Weighted Average
  4. Specific Identification

Questions & Step-by-step Solutions

1 item
Q
Q: Which method would provide a better matching of current costs with revenues in a declining price environment?
Solution: In a declining price environment, FIFO would provide a better matching of current costs with revenues as it uses older, higher costs.
Steps: 0

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