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Microsoft Exam MB-330 Topic 3 Question 93 Discussion

Actual exam question for Microsoft's MB-330 exam
Question #: 93
Topic #: 3
[All MB-330 Questions]

A company has items in inventory with two costing methods: FIFO and Standard. The company needs to calculate the cost of all items at month end and provide a total inventory value to the finance department.

You need to determine the total value of inventory.

Which costing method requires running the inventory close?

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Suggested Answer: A

Contribute your Thoughts:

Audry
3 days ago
I think it's option B. FIFO items only need to be run at month-end, not the Standard Cost items.
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Adrianna
3 days ago
I'm not sure, but I think LIFO, Moving Average, and Date Weighted Average items also require running the inventory close.
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Roosevelt
6 days ago
I agree with Shay, because FIFO ensures that the oldest costs are matched with the oldest revenues.
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Clemencia
7 days ago
FIFO and Standard Cost items require running the inventory close to calculate the total inventory value. Easy peasy!
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Shay
9 days ago
I think the costing method that requires running the inventory close is FIFO and Standard Cost items.
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