Accounting MCQ Inventory Cost Flow In a period of falling prices, the use of which inventory cost flow method would typically result in the highest cost of goods sold?

In a period of falling prices, the use of which inventory cost flow method would typically result in the highest cost of goods sold?

Naim 00:00 Inventory Cost Flow

In a period of falling prices, the use of which inventory cost flow method would typically result in the highest cost of goods sold?

A. FIFO
B. LIFO
C. Weighted average
D. Specific identification

Answer: A. FIFO

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Accounting MCQ

In a period of falling prices, the use of which inventory cost flow method would typically result in the highest cost of goods sold?

In a period of falling prices, the use of which inventory cost flow method would typically result in the highest cost of goods sold?

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