Cost flow is in the reverse order in which costs were incurred ...

[nelaaney]

Cost flow is in the reverse order in which costs were incurred when using
 a. weighted average
  b. last-in, first-out
  c. first-in, first-out
  d. average cost

Question 2

XYZ Company's accounting records on January 1 showed:
  Accounts receivable 50,000
  Allowance for uncollectible accounts (4,000)
 
  On January 2, XYZ wrote off an account receivable of 1,000 from Bounder, Inc As a result of this write-off,
 
  the net realizable value of XYZ's accounts receivable will ________.
  A) increase
  B) decrease
  C) remain the same
  D) The answer cannot be determined from the information given.

[jomama]

Answer to Question 1

b

Answer to Question 2

C

[nelaaney]

YES! Correct, THANKS for helping me on my review

[mochi09]

Thanks for the timely response, appreciate it