In case of rising prices (inflation), LIFO method will

Q. In case of rising prices (inflation), LIFO method will:

A.            Provide lowest value of closing stock and profit

B.            Provide highest value of closing stock and profit

C.            Provide highest value of closing stock but lowest value of profit

D.            Provide highest value of profit but lowest value of closing stock

Answer: Provide lowest value of closing stock and profit