Which inventory costing method can result in lower income taxes during periods of inflation?

• Specific identification
• LIFO
• Average cost
• FIFO

Related MCQs

• Which inventory method might a company use if it wants to minimize taxable income during periods of inflation?
• Which inventory method may result in outdated inventory costs on the balance sheet?
• Which of the following is NOT affected by the choice of inventory costing method?
• How does the choice of inventory costing method affect COGS?
• Which inventory costing method might a company use to match actual physical flow of goods?
• In periods of rising prices, which inventory method yields the highest gross profit?
• Which inventory method assumes that the newest inventory items are sold first?
• Which inventory method assumes that the oldest inventory items are sold first?
• The income a nation collects from taxes is called ___ .
• Which costing method spreads the total cost of goods available for sale evenly across all units?