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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

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
1 months 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
8 days ago
Definitely. It's crucial for accurate financial reporting.
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Selma
13 days ago
No problem! It's important to understand the costing methods for inventory valuation.
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Chanel
18 days ago
Oh, really? I didn't know that. Thanks for the clarification.
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Linwood
27 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
1 months 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
3 months ago
I agree with Shay, because FIFO ensures that the oldest costs are matched with the oldest revenues.
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Clemencia
3 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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