When purchase costs regularly rise, the inventory costing method that yields the highest reported net income is: Multiple Choice Specific identification method. Average cost method. Weighted-average method. FIFO method. LIFO method.

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briannagirl3987 briannagirl3987

31-05-2022
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When purchase costs regularly rise, the inventory costing method that yields the highest reported net income is: Multiple Choice Specific identification method. Average cost method. Weighted-average method. FIFO method. LIFO method.

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Tundexi Tundexi · Answer 1 · 2022-06-09T17:43:14+02:00

The FIFO method of inventory is used whenenever the purchase costs regularly rise and result to an inventory costing method that yields the highest reported net income.

What is a FIFO method?

It is an acronyms of First In, First Out.

In accounting, this is a valuation method where assets produced or acquired first are sold, used or disposed of first.

Therefore, the Option D is correct.