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

4 days 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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Rebecka

5 days ago

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

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Jacquelyne

7 days 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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Audry

20 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

20 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

23 days ago

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

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Clemencia

24 days ago

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

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Adelina

6 days ago

B) FIFO items only

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Tamar

9 days ago

A) FIFO and Standard Cost items

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Shay

26 days ago

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

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