Under this method the value of inventory is equal to the cost of the most recently purchased units
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Answer:
FIFO
Explanation:
In First In First Out method of valuing the inventory the inventory value will be equal to the value of recently purchased units because in First in First out it is assumed that the inventory is used in order which they occur I.e.; the 1st purchased commodity is used 1st. So at the time of valuing the inventory we are left with lastly purchased ones I.e., recently purchased.
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