In a period of rising prices,the use of which of the following cost flow methods would result in the highest cost of goods sold?
A)LIFO
B)FIFO
C)Weighted average cost
D)Moving average cost

Question

Quizplus · Accepted Answer

In a period of rising prices, the Last In, First Out (LIFO) method would result in the highest cost of goods sold because it assumes that the most recently acquired items are sold first, which would be at the higher prices due to inflation.

In a Period of Rising Prices,the Use of Which of the Following