In a period of rising prices, FIFO results in a lower profit and lower ending inventory than average

Name: In a period of rising prices, FIFO results in a lower profit and lower ending inventory than average
Brand: Quizplus
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Question

Quizplus · Accepted Answer

In a period of rising prices, FIFO (First-In, First-Out) results in higher profits and higher ending inventory values compared to the average cost method, as older, cheaper costs are matched against current revenues.

In a Period of Rising Prices, FIFO Results in a Lower