fill in the blank question\nthe cost flow assumption more realistically matches the current cost of…
fill in the blank question\nthe cost flow assumption more realistically matches the current cost of inventory with current sales revenue.\nneed help? review these concept resources.\nread about the concept
Answer
Brief Explanations:
In accounting, the FIFO (First - In, First - Out) method assumes that the first goods purchased are the first ones sold. LIFO (Last - In, First - Out) assumes the last goods purchased are the first ones sold. LIFO matches the current cost of inventory (the most recently purchased, which is likely to be at current market prices) with current sales revenue.
Answer:
LIFO