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Under inflationary trend, FIFO method will result in showing the highest value of inventory because it assumes that the items that were purchased first are sold first. This means that the items remaining in inventory are assumed to have been purchased at more recent and higher prices, reflecting the rising costs due to inflation. As a result, the cost of goods sold is lower, and the ending inventory is higher, leading to a higher overall value of inventory.
Which of the following Indian sport shooters won the gold medal in the 10 metre air pistol event in 2019?
Which of the following States is not covered under Strengthening Teaching-Learning and Results for States (STARS) Project?
Who was conferred with the Lokmanya Tilak Award 2023?
Prime Minister Narendra Modi inaugurates and lays the foundation stone of mechanization and industrialization projects worth Rs 3800 crores in which of ...
Who won Wimbledon 2022 in Single men category?
Which of the following tribes of Nagaland celebrates the ‘Mimkut’ festival?
By which year did the Indian Railways set a target of becoming a net-zero carbon emitter?
What is the special area of investigation that Satyabhama Das Biju is famous for?
The word 'direct free kick' is related to which of the following sports?
Which of the following is NOT a synovial joint in the human body?