fill in the blank question\nif a company assumes that its inventory costs flow out in the opposite order…

fill in the blank question\nif a company assumes that its inventory costs flow out in the opposite order from which the goods were purchased, it uses blank to value inventory. (please respond using the acronym.)\nneed help? review these concept resources.

fill in the blank question\nif a company assumes that its inventory costs flow out in the opposite order from which the goods were purchased, it uses blank to value inventory. (please respond using the acronym.)\nneed help? review these concept resources.

Answer

Brief Explanations:

In accounting, when inventory costs flow out in the opposite order of purchase, the method used is Last - In, First - Out. The acronym for it is LIFO.

Answer:

LIFO