I need help determining the cost assigned to inventory and the cost of goods sold using FIFO. Some of my answers are correct some are not. I have provided images of the assignment

Select all that apply Determine which of the following statements are correct regarding the difference between physical flow and the cost flow of inventory Check all that apply) A business may adopt any cost flow assumption when accounting for perishable sems Perishable-items Usually have an actual physical flow of FIFO Penshable items neve an actual physical flow of LIFO Cost flow in an assumption about which goods/items are sold Physical flow refers to the actual movement of goods

Which type of inventory might a service provider report? Select one: O O O O a. raw materials b. work-in-process c. finished goods d. two or more of a, b, and c. e. a service provider never reports inventory Check

Explain the differences between a Perpetual Inventory system and a Periodic Inventory System.  Explain how one is better than the other.

Really not undertsanding LIFO, thank you ahead of time

Which of the following costs will not affect cost of goods sold? Multiple Choice Inventory inspection costs. Inventory preparation costs. Inventory-related selling costs. O Freight charges incurred to bring inventory to the warehouse.

How do you find an inventory report for manufacturers?