Question

During a period of rising prices, using fifo (first-in, first-out) inventory valuation method will result in ________ net income figures than would lifo (last-in, first-out). higher lower the same less accurate

Answer 1

The correct option is "higher".

During a period of rising prices, FIFO provides the higher net income figures and during the period of falling prices, LIFO provides the higher net income figures.
FIFO stands for first in, first out.
LIFO stands for last in, first out.