During the time of inflation, the method of pricing material issues which leads to a lower material costs for a job is: (A) FIFO (B) LIFO (C) HIFO (D) Standard Pricing Method
CS Executive · Cost and Management Accounting · PYQS · December 2017
During the time of inflation, the method of pricing material issues which leads to a lower material costs for a job is: (A) FIFO (B) LIFO (C) HIFO (D) Standard Pricing Method
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: Material Pricing
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