candytrickster9700 candytrickster9700

11-10-2019
Business

contestada

In time of rising prices, ending inventory determined using the LIFO inventory assumption will be ________ than ending inventory determined using the FIFO inventory assumption.

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canigeloy canigeloy

11-10-2019

Answer:

LOWER

Explanation:

In time of rising prices, the inventory valuation made according to LIFO ( LAST IN FIRST OUT ) will be LOWER than the one valued according to FIFO ( FIRST IN FIRST OUT ) method.

The reason is that in LIFO, the newer stock is sold first, therefore, the remaining inventory is valued according to older purchases, that in inflationary context have lower prices.

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