In a period of rising prices, FIFO and LIFO will produce the same cost for ending inventory.

Name: In a period of rising prices, FIFO and LIFO will produce the same cost for ending inventory.
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In a period of rising prices, FIFO (First In, First Out) will produce a higher cost for ending inventory compared to LIFO (Last In, First Out) as the older, lower-priced units will be matched with cost of goods sold leaving the newer, higher-priced units in ending inventory.

In a Period of Rising Prices, FIFO and LIFO Will