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Which of the following is NOT a characteristic of the FIFO method?

Practice Questions

1 question
Q1
Which of the following is NOT a characteristic of the FIFO method?
  1. It assumes the oldest inventory is sold first.
  2. It can lead to higher taxes in inflationary periods.
  3. It is commonly used for perishable goods.
  4. It results in lower ending inventory values.

Questions & Step-by-step Solutions

1 item
Q
Q: Which of the following is NOT a characteristic of the FIFO method?
Solution: FIFO typically results in higher ending inventory values during inflation, not lower.
Steps: 0

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