An advantage of using the FIFO method for determining inventory cost is that it O results in a better income statement valuation. O is greater than when weighted average cost is used. O results in more recent costs being reflected in cost of goods sold. O results in a better merchandise inventory valuation on the balance sheet.

An advantage of using the FIFO method for determining inventory cost is that it results in a better income statement valuation. is greater than when weighted average cost is used. results in more recent costs being reflected in cost of goods sold. results in a better merchandise inventory valuation on the balance sheet