In a period of falling prices,FIFO normally results in a higher profit than does weighted-average cost.

Name: In a period of falling prices,FIFO normally results in a higher profit than does weighted-average cost.
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Quizplus · Accepted Answer

In a period of falling prices, FIFO (First-In, First-Out) results in lower profits compared to the weighted-average cost method because the older, higher-cost inventory is sold first, leading to higher cost of goods sold and lower profits.

In a Period of Falling Prices,FIFO Normally Results in a Higher