In a period of rising prices, the use of which of the following cost flow methods would result in the lowest cost of goods sold?

Name: In a period of rising prices, the use of which of the following cost flow methods would result in the lowest cost of goods sold?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Under the FIFO method, the earliest purchases, which were least the expensive, would be considered to be the goods sold. Thus, cost of goods sold would be lower.

In a Period of Rising Prices, the Use of Which