alleryStart learning →In rising prices, what does FIFO show versus LIFO?
ALow stock, low COGS
BHigh stock, high COGS
CHigh stock, low COGS
DLow stock, high COGS
Answer & Solution
Correct answer: C. High stock, low COGS
With prices rising, FIFO leaves the newer, dearer units in stock and expenses the older cheaper units.
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