Which of the following inventory costing methods yields the highest Ending inventory when costs are rising during the accounting period?

Question

Quizplus · Accepted Answer

The First-In, First-Out (FIFO) method results in the highest ending inventory value when costs are rising because it assumes that the oldest, cheaper costs are used up first, leaving the more expensive, recent costs in ending inventory.

Which of the Following Inventory Costing Methods Yields the Highest