MCQOPTIONS
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MCQOPTIONS
| 1. |
In case of rising prices (inflation), FIFO method will:? |
| A. | provide lowest value of closing stock and profit |
| B. | provide highest value of closing stock and profit |
| C. | provide highest value of closing stock but lowest value of profit |
| D. | provide highest value of profit but lowest value of closing stock |
| Answer» C. provide highest value of closing stock but lowest value of profit | |