Under inflationary conditions,the least conservative inventory method is lifo.

Name: Under inflationary conditions,the least conservative inventory method is lifo.
Brand: Quizplus
Rating: 4.9 (29 reviews)

Question

Quizplus · Accepted Answer

Under inflationary conditions, the least conservative inventory method is FIFO (First In, First Out) because it assumes that the oldest inventory is sold first, leading to lower cost of goods sold and higher reported profits compared to LIFO (Last In, First Out).

Under Inflationary Conditions,the Least Conservative Inventory Method Is Lifo