The inventory valuation method that results in the lowest taxable income in a period of inflation is:
A. LIFO method.
B. FIFO method.
C. Weighted-average cost method.
D. Specific identification method.
E. Gross profit method.
Answer: A
The inventory valuation method that results in the lowest taxable income in a period of inflation is:
A. LIFO method.
B. FIFO method.
C. Weighted-average cost method.
D. Specific identification method.
E. Gross profit method.
Answer: A