alleryStart learning →Which cost formulas does AS 2 allow for interchangeable items?
ALIFO or weighted average
BFIFO or weighted average
CHIFO or LIFO methods
DLIFO or FIFO methods
Answer & Solution
Correct answer: B. FIFO or weighted average
AS 2 names only FIFO and weighted average cost, so LIFO is not an accepted formula.
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