Accounting Practice Problems Periodic Inventory - FIFO, LIFO, and Average Cost Practice Problems Solution: In periods of rising prices, which inventory costi...

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Solution: In periods of rising prices, which inventory costing method will yield the highest operating income? a. FIFO b. LIFO c. Weighted Average d. Specific Identification

Problem

In periods of rising prices, which inventory costing method will yield the highest operating income?

a. FIFO

b. LIFO

c. Weighted Average

d. Specific Identification