During a period of steadily rising prices, which inventory cost flow assumption results in reporting the highest inventory value?

Question

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Under FIFO (first-in, first-out), the inventory cost flow assumption assumes that the first items purchased are the first items sold. Therefore, during a period of rising prices, the items recorded as inventory on the balance sheet will be the most recently purchased items (at higher prices), resulting in the highest inventory value.

During a Period of Steadily Rising Prices, Which Inventory Cost