The inventory costing method that results in the lowest taxable income in a period of rising costs is: ____________

a. lifo method.
b. fifo method.
c.
d. weighted-average cost method.
e. specific identification method. gross profit method.

An inventory is the goods and materials owned by an organization for the purpose of utilization or the ultimate goal of reselling them for profits. They can also be seen as the complete list of items in an organization.

The Fifo method is a type of inventory costing method that results in the lowest taxable income in a period of rising cost. It is an efficient method of inventory costing.

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The inventory costing method that results in the lowest taxable income in a period of rising costs is: ____________a. lifo method. b. fifo method. c. d. weighted-average cost method. e. specific identification method. gross profit method.

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What is an Inventory?

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The inventory costing method that results in the lowest taxable income in a period of rising costs is: ____________

a. lifo method.
b. fifo method.
c.
d. weighted-average cost method.
e. specific identification method. gross profit method.