Which of the following is false regarding the FIFO inventory method? A. FIFO under a perpetual inventory system results in the same cost of goods sold as FIFO under a periodic inventory system.
B. A company can choose to account for the flow of inventory using the FIFO method even if this doesn’t match the actual flow of its inventory.
C. Perishable goods often follow an actual physical flow that is consistent with the FIFO method assumptions.
D. All of the other answer choices are true.

Asmall town wants to build some new recreational facilities. the proposed facilities include a swimming pool, recreation center, basketball court and baseball field. the town council wants to provide the facilities which will be used by the most people, but they face budget and land limitations. the town has $400,000 and 14 acres of land. the pool requires locker facilities which would be in the recreation center, so if the swimming pool is built the recreation center must also be built. also, the council has only enough flat land to build the basketball court or the baseball field. the daily usage and cost of the facilities (in $1,000) are shown below. which facilities should they build? facilityusagecost ($1,000)landswimming pool4001002recreation center5002003basketball court3001504baseball field2001005