alleryStart learning →Which cost formulas does AS 2 allow for interchangeable items?
AFIFO or weighted average
BFIFO or LIFO formulas
CLIFO or weighted average
DHIFO or FIFO formulas
Answer & Solution
Correct answer: A. FIFO or weighted average
AS 2 prescribes only the first-in first-out and weighted average formulas for ordinarily interchangeable stock.
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