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  • Accounting (CA - CPT)
  • Under inflationary conditions, _________ method will show...
Multiple choice

Under inflationary conditions, _________ method will show the highest value of closing inventory.

  1. FIFO

  2. LIFO

  3. weighted average

  4. HIFO

  5. None of these

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

FIFO: First come first out ensures that the goods at the end have the latest, i.e. highest price.

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