The most popular inventory costing method is:

Question

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FIFO (First-In-First-Out) is the most popular inventory costing method because it assumes that the first items purchased are the first items sold. This method makes it easier to track the cost of goods sold and the value of inventory, especially when a company has a large number of inventory items. Additionally, FIFO tends to result in lower taxable income when prices are increasing since it values the cost of goods sold with the older, lower-priced inventory.

The Most Popular Inventory Costing Method Is