Question: When prices are increasing, which inventory method will produce the highest cost of goods sold? When prices are increasing, which inventory method will produce the

When prices are increasing, which inventory method will produce the highest cost of goods sold?
When prices are increasing, which inventory method will produce the highest cost of goods sold?
First-in, first-out (FIFO)
Last-in, first-out (LIFO)
Average cost
Cost of goods sold will be the same under these methods.

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