Final answer:
The statement is false because in the first-in, first-out (FIFO) method the ending inventory is valued at the oldest costs, not the most recent.
Step-by-step explanation:
The statement 'The first-in, first-out (FIFO) inventory method results in an ending inventory valued at the most recent cost' is False. By definition, the FIFO method assumes that the first items added to inventory are the first ones to be sold. Therefore, the ending inventory consists of the items that were acquired most recently. However, this means that the cost of the ending inventory will reflect the oldest costs, not the most recent. In periods of rising prices, the FIFO method usually results in a lower cost of goods sold and a higher ending inventory value, as earlier, cheaper items are recorded as being sold first, leaving the more expensive, newer acquisitions in inventory.