Question: FIFO is considered a balance - sheet approach for reporting inventory because it: Multiple Choice Better approximates the value of ending inventory. Better approximates inventory

FIFO is considered a balance-sheet approach for reporting inventory because it:
Multiple Choice
Better approximates the value of ending inventory.
Better approximates inventory cost necessary to generate revenue.
Always results in a lower amount of inventory being reported.
Always results in a higher amount of inventory being reported.

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