If Prices Are Rising, Which Inventory Cost Flow Method Will

question 59

Multiple Choice

If prices are rising, which inventory cost flow method will produce the lowest amount of cost of goods sold?

• A)FIFO
• B)LIFO
• C)NIFO
• D)Weighted Average

---

Definitions:

Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale, leading to increased interconnectedness and interdependence among the world's markets and businesses.

Postmodern Revolution

A societal or cultural shift characterized by skepticism towards grand theories and ideologies, embracing plurality and diversity.

Peasant Uprising

A revolt or rebellion by farmers or rural residents, often against oppressive conditions, taxes, or feudal practices.

World Wide Web

An information system where documents and other web resources are identified by URLs, interconnected by hyperlinks, and accessible via the Internet.