alleryStart learning →Which method is not permitted by AS 2 for assigning inventory cost?
AFirst-in, first-out
BSpecific identification
CWeighted average cost
DLast-in, first-out
Answer & Solution
Correct answer: D. Last-in, first-out
AS 2 lists FIFO, weighted average and specific identification only; last-in first-out is not among the permitted formulas.
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