During a period of consistently rising prices, the method of inventory that will result in reporting the greatest cost of merchandise sold is

A) FIFO
B) LIFO
C) average cost
D) weighted average

Rising prices

A situation in an economy where the general level of prices for goods and services is increasing over a period of time.

Inventory method

A system used by companies to keep track of the quantity and cost of inventory on hand and sold, including methods like FIFO (First In, First Out) and LIFO (Last In, First Out).