What costing method should be used if the receipt cost of items that are the newest in stock is required?
A . LIFO
B . FIFO
C . Average
D . Standard
Answer: A
Explanation:
Reference: http://www.ibm.com/support/knowledgecenter/SSLKT6_7.5.0/com.ibm.mam.doc/glossary/ glossary.html