The cost method that will yield the highest taxable income during times of inflation is the O a. FIFO inventory cost method. O b. specific identification inventory cost method. O c. LIFO inventory cost method. O d. weighted average inventory cost method. The three most common inventory cost flow methods are O a. FIFO, LIFO, and weighted average cost. O b. FIFO, retail, and weighted average cost. O c. FIFO, LIFO, and specific identification. O d. None of these choices are correct. The cost method that will yield an ending inventory that is closer to current prices is the O a. specific identification inventory cost method. O b. weighted average inventory cost method. O c. FIFO inventory cost method. O d. LIFO inventory cost method. Inventory cost flow assumptions address accounting issues except when O a. identical units of merchandise are acquired at different unit costs during the period. O b. an item is sold and it is necessary to determine its cost. O.C. c. both of these choices address inventory accounting issues. O d. neither of these choices addresses inventory accounting issues. em #10 of 15 Which of the following is a benefit of using a computerized perpetual inventory system? O a. Computerized perpetual inventory systems are helpful when recording many inventory transactions. O b. Sales patterns can be analyzed easily when using computerized perpetual inventory systems. O c. Computerized perpetual inventory systems help managers track inventory. O d. All of these choices are correct.