posted a question
In a period of falling prices, which of the following methods will give the highest net income?

A. FIFO

B. Specific identification

C. Average-cost

D. LIFO

Thank you!!!
Tutor answered the question
Dear Student,
Please find...  

Download Preview:

In a period of falling prices, which of the following methods will give the highest net income?

A. FIFO

B. Specific identification

C. Average-cost

D. LIFO

Answer - D. LIFO.
In LIFO, the last...