An inventory pricing procedure in which the oldest costs incurred rarely have an effect on the ending inventory valuation is:

Question

Shiloh Padilla

Business

24 August, 04:46

An inventory pricing procedure in which the oldest costs incurred rarely have an effect on the ending inventory valuation is:

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Answers (1)

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Lindsey Porter · Answer 1

First in, first out (FIFO)

Explanation:

In FIFO, the assets produced or acquired first are sold, used or disposed of first and may be used by an individual or a corporation. So, since the newer costs are more relevant, the oldest cost won't affect the ending valuation.