The inventory cost flow assumption that assigns the highest cost to cost of goods sold in a period of rising prices is FIFO.

Name: The inventory cost flow assumption that assigns the highest cost to cost of goods sold in a period of rising prices is FIFO.
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In a period of rising prices, the LIFO (Last In, First Out) inventory cost flow assumption assigns the highest cost to the cost of goods sold because the most recently acquired (and presumably more expensive) inventory items are sold first.

The Inventory Cost Flow Assumption That Assigns the Highest Cost