Accounting MCQ Accounting Which inventory cost flow assumption generally results in the highest reported amount for cost of goods sold when inventory costs are falling?

Which inventory cost flow assumption generally results in the highest reported amount for cost of goods sold when inventory costs are falling?

Naim 12:39 Accounting

Which inventory cost flow assumption generally results in the highest reported amount for cost of goods sold when inventory costs are falling?

A) FIFO.

B) LIFO.

C) Weighted-average cost.

D) Straight-line.

Answer: A

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