The first-in first-out (FIFO) inventory method results in an ending inventory valued at the most recent cost.

Name: The first-in first-out (FIFO) inventory method results in an ending inventory valued at the most recent cost.
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The FIFO method assumes that the oldest items purchased or manufactured are sold first, leaving the most recently acquired items in inventory, thus valuing the ending inventory at the most recent costs.

The First-In First-Out (FIFO) Inventory Method Results in an Ending