What does HIFO, an inventory method based upon the concept of the inventory costing the most will be the first to be used or taken out of stock, stand for?

What does HIFO, an inventory method based upon the concept of the inventory costing the most will be the first to be used or taken out of stock, stand for?



A. High-Priced In, First Out

B. Heaviest In, First Out

C. Highest In, First Out

D. Handiest In, First Out



Answer: C. Highest In, First Out


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