The FIFO inventory method does not produce the most up-to-date figure for ending inventory.

Name: The FIFO inventory method does not produce the most up-to-date figure for ending inventory.
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Quizplus · Accepted Answer

The FIFO (First-In, First-Out) inventory method assumes that the oldest inventory items are sold first, which means the ending inventory is made up of the most recently acquired items, thus reflecting more current market prices and producing an up-to-date figure for ending inventory.

The FIFO Inventory Method Does Not Produce the Most Up-To-Date