Similar to the Example of FIFO and LIFO Inventory Accounting

Multiple Choice

Similar to the example of FIFO and LIFO inventory accounting methods in the text, a college store purchased sweatshirts for the upcoming fall semester. Using the following data, where a total of 100 sweatshirts were purchased by the store and placed in inventory, select the correct statement from the following choices.

A) FIFO would provide the least profit.
B) FIFO would provide the most profit.
C) LIFO or FIFO will produce the same amount of profit.
D) LIFO would provide the most profit.