Which of the following inventory costing methods results in the highest value of ending inventory during a period of rising inventory costs?

Question

Quizplus · Accepted Answer

During a period of rising inventory costs, the First-in, first-out (FIFO) method results in the highest value of ending inventory because it assumes that the oldest costs are assigned to the cost of goods sold, leaving the newer, higher costs in ending inventory.

Which of the Following Inventory Costing Methods Results in the Highest