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The method of stock valuation which overstates profit during inflation is

Book Keeping
WAEC 2024

The method of stock valuation which overstates profit during inflation is

  • A. FIFO
  • B. LIHO
  • C. simple average
  • D. weighted average
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Correct Answer: Option A
Explanation

A  FIFO overstates profit during inflation period.

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WAEC offline past questions - with all answers and explanations in one app - Download for free
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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 127076
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WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 127076
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now