cost of goods sold . 13- IFRS Multiple Choice Question 232 Under IFRS , companies can choose which inventory system ? LIFO FIFO Yes No Yes Yes No Yes No No 14- Multiple Choice Question 123
The lower-of-cost-or-market ( LCM ) basis may be used with all of the following methods except
FIFO . LIFO . The LCM basis may be used with all of these . average cost . 15- Multiple Choice Question 161
Inventory items on an assembly line in various stages of production are classified as