During periods when costs are rising and inventory quantities are stable, cost of goods sold will be:
A) Higher under FIFO than LIFO.
B) Higher under FIFO than average cost.
C) Lower under average cost than LIFO.
D) Lower under LIFO than FIFO.

Question

Quizplus · Accepted Answer

The Answer of During periods when costs are rising and inventory quantities are stable, cost of goods sold will be:
A) Higher under FIFO than LIFO.
B) Higher under FIFO than average cost.
C) Lower under average cost than LIFO.
D) Lower under LIFO than FIFO.

During Periods When Costs Are Rising and Inventory Quantities Are