The choice of inventory costing method does not have an effect on net income.

Name: The choice of inventory costing method does not have an effect on net income.
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Question

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The choice of inventory costing method can have an effect on net income. Different methods, such as FIFO (first-in, first-out) or LIFO (last-in, first-out), can result in different values for cost of goods sold and, therefore, different levels of net income.

The Choice of Inventory Costing Method Does Not Have an Effect