Under conditions of rising prices, I would recommend using the LIFO (Last-In, First-Out) method.

The LIFO method assumes that the most recently purchased inventory items are sold first, which means that the older, lower-priced inventory remains in the balance sheet. This can have the following advantages under rising prices:

1. Tax advantages: LIFO can help reduce taxable income by matching higher priced inventory with sales, resulting in lower reported profits and consequently, lower taxes.

2. Better matching of costs: LIFO better matches current costs (higher prices) with current revenues, providing a more accurate representation of the cost of goods sold. This can be beneficial for financial reporting purposes.

3. Inventory valuation: LIFO typically results in a lower ending inventory valuation on the balance sheet, which can be advantageous during periods of inflation as it provides a more conservative estimate of the company's financial position.

It's important to note that LIFO may not be allowed in all countries or under certain accounting standards, so companies should consider the legal and regulatory requirements before choosing this method. Additionally, the decision of whether to use FIFO or LIFO should be based on a thorough analysis of the specific business circumstances and the potential impact on financial statements.