Which of the following inventory costing methods yields the highest net income during a period of rising inventory costs?

Name: Which of the following inventory costing methods yields the highest net income during a period of rising inventory costs?
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Question

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During a period of rising inventory costs, the First-in, First-out (FIFO) method results in lower cost of goods sold and higher net income because it assumes that the oldest, and typically cheaper, inventory is sold first.

Which of the Following Inventory Costing Methods Yields the Highest