In a period of declining prices, the inventory method which tends to give the highest amount of costs of goods sold is
A. Specific isentification
B. Average cost
C. FIFO
D. LIFO
Answer: C. FIFO
In a period of declining prices, the inventory method which tends to give the highest amount of costs of goods sold is
A. Specific isentification
B. Average cost
C. FIFO
D. LIFO
Answer: C. FIFO
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.