In the periods of rising costs, which inventory cost flow method results in a higher cost of goods sold, a lower ending inventory, and a smaller net income?
a) specific unit
b)weighted average
c)FIFO
d)LIFO
Answer: D
In the periods of rising costs, which inventory cost flow method results in a higher cost of goods sold, a lower ending inventory, and a smaller net income?
a) specific unit
b)weighted average
c)FIFO
d)LIFO
If the answers is incorrect or not given, you can answer the above question in the comment box. If the answers is incorrect or not given, you can answer the above question in the comment box.