Thank you for watching this video segment from October 2017 Customs Broker License Examination (“CBLE”) preparation class.
Following CBLE question is the focus of this video:
The method by which fungible merchandise or articles are identified on the basis of calculation by recordkeeping of the amount of drawback that may be attributed to each unit of merchandise or arti-cles in the inventory. Which of the following approved accounting method is utilized by Customs and Border Protection?
A. Average
B. Inventory turn-over for limited purposes
C. Low-to-High
D. Last-in, first out
E. First-in, first out
Correct Answer: (A).
The discussion is a part of lecture series designed to prepare for the upcoming Customs Broker License Examinations. Please visit https://www.lawcustoms.com/live/ for details about CBLE preparation classes.
We also invite you take a look at our recent publication- the 6th Edition of U.S. Customs Broker License Examination Preparation Guide Textbook – which is comprised of two volumes. Please visit https://www.lawcustoms.com/tb/ for details about CBLE preparation textbooks.
