Which of the following is least likely to be a possible cause of book-to-physical differences in inventory quantities?
A. Inventory cutoff errors.
B. Misapplication of LIFO.
C. Unreported scrap or spoilage.
D. Theft.
Answer: Misapplication of LIFO
Which of the following is least likely to be a possible cause of book-to-physical differences in inventory quantities?
A. Inventory cutoff errors.
B. Misapplication of LIFO.
C. Unreported scrap or spoilage.
D. Theft.
Answer: Misapplication of LIFO
If the answers is incorrect or not given, you can answer the above question in the comment box. If the answers is incorrect or not given, you can answer the above question in the comment box.