Elance Exams Answers PDF file

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Download PDF file of elance Zoho Creator Exam Answers
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NIFO (Next-In First-Out) is an inventory valuation system where the cost of sale of the item is based on ...?

the cost to replace it rather than on historical cost.
the cost flow based on a weighted average of unit costs
the cost flow in a reverse chronological order
the cost flow on the chronological order purchases are made
the estimated selling price less any expense incurred to dispose of the good
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