Which of the following inventory method will give the highest ending inventory in a period of falling prices?
A)FIFO
B)LIFO
C)Specific Identification Method
D)Weighted Average Cost

Question

Quizplus · Accepted Answer

LIFO (Last-In, First-Out) method assigns the most recent costs to the goods sold, resulting in a higher ending inventory value during periods of falling prices.

Which of the Following Inventory Method Will Give the Highest