An inventory costing procedure in which the latest costs incurred rarely have an effect on the ending inventory valuation is Select one: a. base stock. b. weighted-average. c. FIFO. d. LIFO.

d. LIFO

Explanation:

Last - In - First - Out (LIFO) assumes that the last goods purchased are the first ones to be issued to the final customer or requisition department.

This means that : Valuation of Inventory will begin using the value of the earliest goods purchased instead of earliest prices.

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a. money supply  

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