Widely used for tax purposes
123	Produces the highest ending inventory when costs are increasing
123	Produces the highest gross profit when costs are decreasing
123	Rarely used with a perpetual inventory system
123	Does not follow the physical flow of goods in most cases
123	Cost of the latest purchases are assigned to ending inventory
123	Never results in either the highest or lowest possible net income
123	Produces the same cost of merchandise sold under both the periodic and the perpetual inventory systems
123	Assigns the same value to all inventory units
123	Produces results that are similar to the specific identification method
123	Prohibited under International Financial Reporting Standards (IFRS)

1.	FIFO
2.	LIFO
3.	Weighted average