Are the following statements true or false? Statement True False In periods of rising prices, FIFO gives a higher valuation of closing inventory than LIFO or AVCO. In periods of falling prices, LIFO gives a higher valuation of issues of inventory than FIFO or AVCO. AVCO would normally be expected to produce a valuation of closing inventory somewhere between valuations FIFO and LIFO. FIFO costs issues of inventory at the most recent purchase price. AVCO costs issues of inventory at the oldest purchase price. LIFO costs issues of inventory at the oldest purchase price. FIFO values closing inventory at the most recent purchase price. LIFO values closing inventory at the most recent purchase price. AVCO values closing inventory at the latest purchase price.
【参考答案及解析】
Statement True False In periods of rising prices, FIFO gives a higher valuation of 对 closing inventory than LIFO or AVCO. In periods of falling prices, LIFO gives a higher valuation of 对 issues of inventory than FIFO or AVCO. AVCO would normally be expected to produce a valuation of 对 closing inventory somewhere between valuations FIFO and LIFO. FIFO costs issues of inventory at the most recent purchase price. 对 AVCO costs issues of inventory at the oldest purchase price. 对 LIFO costs issues of inventory at the oldest purchase price. 对 FIFO values closing inventory at the most recent purchase price. 对 LIFO values closing inventory at the most recent purchase price. 对 AVCO values closing inventory at the latest purchase price. 对
Statement True False In periods of rising prices, FIFO gives a higher valuation of 对 closing inventory than LIFO or AVCO. In periods of falling prices, LIFO gives a higher valuation of 对 issues of inventory than FIFO or AVCO. AVCO would normally be expected to produce a valuation of 对 closing inventory somewhere between valuations FIFO and LIFO. FIFO costs issues of inventory at the most recent purchase price. 对 AVCO costs issues of inventory at the oldest purchase price. 对 LIFO costs issues of inventory at the oldest purchase price. 对 FIFO values closing inventory at the most recent purchase price. 对 LIFO values closing inventory at the most recent purchase price. 对 AVCO values closing inventory at the latest purchase price. 对