The LIFO inventory method will result in the highest gross margin when costs are increasing in comparison to the specific identification,FIFO and weighted average inventory methods.

Name: The LIFO inventory method will result in the highest gross margin when costs are increasing in comparison to the specific identification,FIFO and weighted average inventory methods.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

LIFO reports the highest cost of goods sold and therefore the lowest gross margin during periods of increasing prices.

The LIFO Inventory Method Will Result in the Highest Gross