Which of the following is true of the fifo inventory method?
a. it assumes that the cost of the earliest units purchased are the first to be allocated to the ending inventory.
b. it assumes that the cost of the earliest units purchased are the first to be allocated to cost of goods sold.
c. it assumes that the cost of the earliest units purchased are the last to be allocated to cost of goods sold.
d. it assumes that the cost of the earliest units purchased are the last to be allocated to the beginning inventory.

(B) It assumes that the cost of the earliest units purchased are the first to be allocated to cost of goods sold.

Explanation:

FIFO means "First-In, First-Out." It is a technique utilized for cost stream suspicion purposes at the expense of products sold estimation. The FIFO technique expects that the most seasoned items in an organization's stock have been sold first. The costs paid for those most established items are the ones utilized in the figuring.

An organization additionally should be cautious with the FIFO technique in that it isn't an exaggerating benefit. This can happen when item costs rise, and those later numbers are utilized at the expense of product estimation rather than the real costs.

net worth is the difference between what you own and what you have. if you exceed your liabilities you have a positive net worth. if your liabilities are greater than your assets you have a negative net worth. its a snapshot of your financial situation. if you calculate your net worth you will see the end result of everything you've earned and spent as of now. net worth statements and all you asked of can you determine where you are, how to get where you want to be, if your spending   to much. honestly it can tell you a lot of things. i can go on, but you can paint the picture from here.

explanation: