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During a Period of Rising Prices, Using FIFO (First-In, First-Out)

Question 221

Multiple Choice

During a period of rising prices, using FIFO (first-in, first-out) inventory valuation method will result in ________ net income figures than would LIFO (last-in, first-out) .


A) higher
B) lower
C) the same
D) less accurate

Correct Answer:

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