Which of the following is NOT an inventory costing method?

• A. Straight-Line
• B. Weighted Average Cost
• C. LIFO (Last-In, First-Out)
• D. FIFO (First-In, First-Out)

Answer: (A)

Verified step by step guidance

1. Understand the concept of inventory costing methods: Inventory costing methods are techniques used to assign costs to inventory and cost of goods sold. Common methods include FIFO, LIFO, and Weighted Average Cost.
2. Review the provided options: The options given are Straight-Line, Weighted Average Cost, LIFO, and FIFO.
3. Identify the odd term: Straight-Line is a depreciation method, not an inventory costing method. It is used to allocate the cost of an asset evenly over its useful life.
4. Compare the other options: Weighted Average Cost, LIFO, and FIFO are all recognized inventory costing methods used in accounting to value inventory and calculate the cost of goods sold.
5. Conclude that Straight-Line is NOT an inventory costing method, as it pertains to asset depreciation rather than inventory valuation.