In a period of rising prices, the inventory method which tends to give the highest reported net income is:.

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14-07-2022
Business

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In a period of rising prices, the inventory method which tends to give the highest reported net income is:.

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baliyansmiriti baliyansmiriti · Answer 1 · 2022-07-22T09:31:57+02:00

In a period of rising prices, the inventory method which tends to give the highest reported net income is first in - first out.

Underneath the FIFO technique, it's far assumed that the goods purchased first are the goods offered first. So the finishing inventory might constitute the goods bought later in a factor of time. For this reason, the goods bought at better costs at a later factor in time would be a part of ending stock, this would bring about a decrease price of products sold. So the net profits will be the highest among all method methods given within the alternatives.

There are 3 strategies for stock valuation: FIFO (First In, First Out), LIFO (ultimate In, First Out), and WAC (Weighted average fee). In FIFO, you anticipate that the first items bought are the first to leave the warehouse.

The 4 important approaches to account for stock are specific identification, first in first out, closing in first out, and weighted average methods. In the historical past, inventory includes the uncooked substances, work-in-manner, and finished goods that a business enterprise has handy for its personal manufacturing methods or on the market to customers.

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