I am working on discussion question #1 for ACC 310 at Ashford University. We are studying standard coating and FIFO and weighted average costing.The...

I am working on discussion question #1 for ACC 310 at Ashford University. We are studying standard coating and FIFO and weighted average costing.The question is as follows: Are there any accounting principles that would dictate one or the other of these methods be used for product costing and inventory valuation?