Final answer:
The Last-In, First-Out (LIFO) inventory valuation method assigns the cost of the most recently purchased products to the cost of goods sold.
Step-by-step explanation:
The inventory valuation method where the value becomes the cost of the most recently purchased products is known as the Last-In, First-Out (LIFO) method. In a period of rising prices, the LIFO method assumes that the latest or most recent items added to the inventory are sold first. Thus, the cost of goods sold reflects the price of more recent purchases, which could be higher than older inventory costs. Conversely, ending inventory is based on older, potentially lower prices. This contrasts with the First-In, First-Out (FIFO) method, where the oldest costs are assigned to cost of goods sold.