Problem:
Financial Statements/ LIFO, FIFO and Weighted Average
There are several different methods for measuring inventory cost flow on the financial statements - LIFO, FIFO, Weighted Average (forget physical flow). The purpose of the financial statements is to give investors information about the business, which of the flow methods do you think is the best and why. In other words, what if it the 'rules' allowed only one - which one would that be? And - of course - why ?
Need a brief response (two - three paragraphs).