FIFO - lower therefore increasing your profit. Also this is...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Mike Gemmati Acc 281-03 3/31/08 Part E The method that produced the highest gross profit was the FIFO method. This is largely because by using the First in First Out method in a time of rising prices your cost of goods sold is
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: lower therefore increasing your profit. Also this is because of how this system values ending inventory which benefits you using the FIFO method....
View Full Document

Ask a homework question - tutors are online