The inventory valuation method that has the advantages of assigning an amount to inventory on the balance sheet that approximates its current cost, and also mimics the actual flow of goods for most businesses is:
a) fifo.
b) weighted average.
c) lifo.
d) specific identification.
e) lower of cost or market.

Identify which of the twelve basic functions listed below fit the description given.

Elliott company produces large quantities of a standardized product. the following information is available for its production activities for march. units costs beginning work in process inventory 2,500 beginning work in process inventory started 25,000 direct materials $ 3,725 ending work in process inventory 5,000 conversion 11,580 $ 15,305 status of ending work in process inventory direct materials added 185,750 materials—percent complete 100 % direct labor added 182,375 conversion—percent complete 30 % overhead applied (140% of direct labor) 255,325 total costs to account for $ 638,755 ending work in process inventory $ 62,530 prepare a process cost summary report for this company, showing costs charged to production, unit cost information, equivalent units of production, cost per eup, and its cost assignment and reconciliation. use the weighted-average method. (round "cost per eup" to 2 decimal places.)

In our daily interactions we can find ourselves listening to other people solely for the purpose of finding weakness in their positions so that we can formulate a convincing response. select one: true false