Thursday 7 March 2013

Which of the following statements is true? The SEC dictates the method of inventory costing method a company must use. Company management selects the method of inventory costing method a company will use. GAAP dictates the method of inventory costing method a company must use. The IRS dictates the method of inventory costing method a company must use.

Which of the following statements is true?
     The SEC dictates the method of inventory costing method a company must use.
     Company management selects the method of inventory costing method a company will use.
     GAAP dictates the method of inventory costing method a company must use.
     The IRS dictates the method of inventory costing method a company must use.
                                        

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