Multiple Choice
During a period of rising prices, if a firm desires to report a low gross profit figure in hopes of reducing their income tax liability, the firm will use the ________ inventory valuation method.
A) FIFO (first-in, first-out)
B) LIFO (last-in, first-out)
C) sliding scale
D) average cost
Correct Answer:
Verified
Correct Answer:
Verified
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