Which of the following inventory costing methods yields the lowest ending inventory when costs are rising during the accounting period?

Question

Quizplus · Accepted Answer

Last-In, First-Out (LIFO) assumes that the last items purchased are the first items sold, so during a rising cost environment, the most recent, more expensive inventory will be counted as sold first, resulting in a lower ending inventory value compared to the other methods.

Which of the Following Inventory Costing Methods Yields the Lowest