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Which inventory cost flow method produces the highest net income in a period of rising prices?In a period of rising prices, first-in-first-out (FIFO) is expected to have the highest net income. This is because FIFO assumes the oldest inventory purchases are sold first. This causes the lowest-priced inventory to be recorded to the expense which would increase the net income.
Which inventory cost flow method will produce the highest amount of ending inventory?Answer and Explanation: In a period of declining costs, b) LIFO will result in the highest ending inventory. The inventory acquired earlier, making up a greater amount of ending inventory in LIFO than under FIFO. The declining purchase costs are used to calculate the cost of goods sold under LIFO.
Would produce the highest amount of net income in an inflationary environment?In an inflationary period, i.e., a period where prices are consistently rising, FIFO will produce the highest amount of income.
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Which inventory cost flow method will produce the highest income and asset values in an inflationary environment quizlet?
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