of the following inventory costing methods is often adopted because of income taxes?

Name: of the following inventory costing methods is often adopted because of income taxes?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Last-in, First-out (LIFO) is often adopted because it can reduce income taxes in times of inflation. This method assumes that the most recently acquired items are sold first, leading to higher cost of goods sold and lower taxable income when prices are rising.

Of the Following Inventory Costing Methods Is Often Adopted Because