When a company uses the first-in,first-out (FIFO)method,the cost of goods sold correlates to the most recently purchased goods,and the value of ending inventory correlates to the oldest goods in stock.

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When a company uses the FIFO method, the cost of goods sold correlates to the oldest goods in stock, and the value of ending inventory correlates to the most recently purchased goods.

When a Company Uses the First-In,first-Out (FIFO)method,the Cost of Goods