The Securities and Exchange Commission (SEC) requires all ...

[aabwk4]

The Securities and Exchange Commission (SEC) requires all publicly-traded corporations to file their 10-K reports using XBRL (Extensible Business Reporting Language).
 
  Indicate whether the statement is true or false

Question 2

During a period of falling prices, which of the following inventory methods generally results in the lowest balancesheet amount for inventory?
 a. average cost method
  b. LIFO method
  c. FIFO method
  d. cannot tell without more information

[lauravaras]

Answer to Question 1

TRUE

Answer to Question 2

c

[aabwk4]

Excellent

[dyrone]

Thanks for the timely response, appreciate it