What inventory cost flow method assigns the cost of the most recent items purchased to ending inventory?

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The FIFO (First-In, First-Out) method assigns the cost of the most recent items purchased to ending inventory. This means that the oldest items in inventory are the first to be sold, and the newest items are the last to be sold. This method is often used in industries where inventory items have a finite shelf life, as it ensures that older items are sold first and are less likely to expire or become obsolete.

What Inventory Cost Flow Method Assigns the Cost of the Most