Which method tracks the actual physical flow of goods and each item of inventory is marked, tagged, or coded with unit cost. O a. First in, first out O b. Last in, last out O C. Weighted average method O d. Specific identification method A contingent liability should be recorded in the accounts when: O a. it is reasonably possible the contingency will happen, but the amount cannot be reasonably estimated O b. it is probable the contingency will happen, and the amount owed can be reasonably estimated Ocit is reasonably possible the contingency will happen, and the amount can be reasonably estimated O d it is probable the contingency will happen, but the amount cannot be reasonably estimated

Which method tracks the actual physical flow of goods and each item of inventory is marked, tagged, or coded with unit cost. O a. First in, first out O b. Last in, last out O C. Weighted average method O d. Specific identification method A contingent liability should be recorded in the accounts when: O a. it is reasonably possible the contingency will happen, but the amount cannot be reasonably estimated O b. it is probable the contingency will happen, and the amount owed can be reasonably estimated Ocit is reasonably possible the contingency will happen, and the amount can be reasonably estimated O d it is probable the contingency will happen, but the amount cannot be reasonably estimated

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Description: ah - ELearningWhich method tracks the actual physical flow of goods and each item of inventory is marked, tagged, or coded with unit cost.O a. First in, first outO b. Last in, last outO c. Weighted average methodO d. Specific identification method20

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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