Microsoft Exam MB-330 Topic 3 Question 93 Discussion

Actual exam question for Microsoft's MB-330 exam

Question #: 93
Topic #: 3

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?

AFIFO and Standard Cost items

BFIFO items only

CLIFO, Moving Average, and Date Weighted Average items

DStandard Cost items only

Show Suggested Answer

Suggested Answer: A

by Joesph at May 07, 2024, 01:21 PM

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Chanel

2 months ago

Wait, is this a trick question? I bet the correct answer is 'all of the above' and the company is trying to catch us out!

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German

28 days ago

A: Maybe it's a combination of both, A) FIFO and Standard Cost items.

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Rashad

1 months ago

B: No, I believe it's C) LIFO, Moving Average, and Date Weighted Average items.

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Afton

1 months ago

A: I think the answer is B) FIFO items only.

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Rebecka

2 months ago

Hold on, aren't LIFO, Moving Average, and Date Weighted Average items also affected? This question is tricky!

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Jacquelyne

2 months ago

Hmm, I'm pretty sure it's D. Standard Cost items are the only ones that need the inventory close process.

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Emiko

3 days ago

Definitely. It's crucial for accurate financial reporting.

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Selma

8 days ago

No problem! It's important to understand the costing methods for inventory valuation.

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Chanel

13 days ago

Oh, really? I didn't know that. Thanks for the clarification.

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Linwood

22 days ago

I think you're mistaken. It's actually A) FIFO and Standard Cost items that require running the inventory close.

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Audry

2 months 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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Bonita

28 days ago

Yes, that's correct. Standard Cost items do not require running the inventory close.

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Bonita

1 months ago

I agree, option B is correct. FIFO items only need to be run at month-end.

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Adrianna

2 months 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

2 months ago

I agree with Shay, because FIFO ensures that the oldest costs are matched with the oldest revenues.

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Clemencia

2 months ago

FIFO and Standard Cost items require running the inventory close to calculate the total inventory value. Easy peasy!

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Ricki

1 months ago

D) Standard Cost items only

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Art

2 months ago

C) LIFO, Moving Average, and Date Weighted Average items

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Adelina

2 months ago

B) FIFO items only

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Tamar

2 months ago

A) FIFO and Standard Cost items

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Shay

3 months ago

I think the costing method that requires running the inventory close is FIFO and Standard Cost items.

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