IIA
IIA-CIA-PART3 · Question #175
An internal auditor found the following information while reviewing the monthly financial siatements for a wholesaler of safety The cost of goods sold was reported at $8,500. Which of the following…
The correct answer is A. Average cost method. You've hit your session limit · resets 10:20pm (America/New_York)
Question
An internal auditor found the following information while reviewing the monthly financial siatements for a wholesaler of safety The cost of goods sold was reported at $8,500. Which of the following inventory methods was used to derive this value?
Exhibit
Options
- AAverage cost method
- BFirst-in, first-out (FIFO) method
- CSpecific identification method
- DActivity-based costing method
How the community answered
(39 responses)- A72% (28)
- B3% (1)
- C18% (7)
- D8% (3)
Explanation
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