Explain how the choice of one of the following ac- counting methods over the other raises or lowers a company's net income during a period of continuing inflation.

(a) Use of FIFO instead of LIFO for inventory cost- ing.

(b) Use of a 6-year life for machinery instead of a 9- year life..

(c) Use of straight-line depreciation instead of ac- celerated declining-balance depreciation.

AppendixLO1