Utilizing the FIFO inventory method, which supply would be used last?

The FIFO (First In, First Out) inventory method operates on the principle that the oldest inventory items are used first. This means that the items purchased or produced first will be the first ones to be consumed or sold.

In the context of the given choices, the supply dated 2/3/17 is the newest. Since FIFO prioritizes the use of older inventory first, this supply will be the last to be utilized. As a result, it is essential to understand that in any inventory management system following the FIFO method, the most recent inventory items are consumed last, which directly correlates to the order of their dates.

Therefore, the supply dated 2/3/17 will indeed be the last one used under FIFO, as it was acquired most recently in comparison to the other supplies listed.