Question

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.

Answer 1

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.

Read more about FIFO method

brainly.com/question/24137318

#SPJ1