In the period of rising prices, the inventory cost allocation that tends to result in the lowest reported net income is
A. FIFO
B. LIFO
C. Moving average
D. Weighted average
Answer: A. FIFO
In the period of rising prices, the inventory cost allocation that tends to result in the lowest reported net income is
A. FIFO
B. LIFO
C. Moving average
D. Weighted average
Answer: A. FIFO
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