Which of the following will occur when inventory costs are decreasing?
A) FIFO will result in a lower net income but a higher ending inventory then will LIFO.
B) FIFO will result in a higher net income but a lower ending inventory then will LIFO.
C) FIFO will result in a lower net income and a lower ending inventory then will LIFO.
D) FIFO will result in a higher net income and a higher ending inventory then will LIFO.
Correct Answer:
Verified
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