Which cost flow assumption generally results in the highest reported amount of net income in periods of rising inventory costs?.

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08-06-2022
Business

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Which cost flow assumption generally results in the highest reported amount of net income in periods of rising inventory costs?.

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ayfat23 ayfat23 · Answer 1 · 2022-06-13T17:27:40+02:00

FIFO is cost flow assumption that generally results in the highest reported amount of net income in periods of rising inventory costs.

What is First In, First Out?

First In, First Out, can be regarded as the is an asset-management techniques which is been used in analyzing assets.

With this techniques the asset that is usually disposed first are those that are first gotten, and this is usually done for the purpose of tax, and uses the assumption that there inclusion of old items in income statement.

learn more about FIFO at :https://brainly.com/question/24137318

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