When comparing the FIFO and LIFO inventory methods, ________.
A) LIFO reports the most up-to-date inventory cost on the balance sheet
B) FIFO results in the most realistic net income figure
C) FIFO matches old inventory costs against revenue
D) LIFO matches old inventory costs against revenue

Question

Quizplus · Accepted Answer

The Answer of When comparing the FIFO and LIFO inventory methods, ________.
A) LIFO reports the most up-to-date inventory cost on the balance sheet
B) FIFO results in the most realistic net income figure
C) FIFO matches old inventory costs against revenue
D) LIFO matches old inventory costs against revenue

When Comparing the FIFO and LIFO Inventory Methods, ________