During a period of continuing inflation, which inventory cost flow alternative usually results in the highest reported net income?

Question

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During a period of continuing inflation, the cost of items held in inventory will typically increase over time. If a company uses the FIFO (first-in, first-out) method for inventory costing, it assumes that the oldest inventory items are sold first. As a result, the cost of goods sold (COGS) reflects the lower cost of the older inventory items. This leaves the newer, higher-priced inventory items in ending inventory, leading to a higher reported inventory value. This, in turn, leads to a lower COGS and a higher reported net income. This makes FIFO the preferred inventory costing method during periods of inflation, as it results in the highest reported net income.

During a Period of Continuing Inflation, Which Inventory Cost Flow