Preffered menthod of Inventory Cost Flow because, remember, best, current

suxiaoxiao

I remember having read in Schweser that FIFO(Irrespective of IFRS/GAAP) is the most preferred method of inventory cost flow because
1) Inventory is latest and gives best approximations of current prices


However, i just did 2010 CFA Sample Questions, and i found that Specific Identification is most preferable followed by FIFO under IAS.

Pls help me here !

All the best !
Cheers,