WAEC Book Keeping 2024 Objective — Question 19
Question 19 of 40 from the West African Examinations Council (WAEC) Book Keeping 2024 Objective paper, with the correct answer and a full explanation.
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19. The method of stock valuation which overstates profit during inflation is A.
- A. FIFOCorrect
- B. LIHO
- C. simple average
- D. weighted average
Explanation
FIFO overstates profit during an inflation period.
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