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1 . If costs are rising, which of the following will be true? a . The cost of goods sold will be greater if LIFO
If costs are rising, which of the following will be true?
a The cost of goods sold will be greater if LIFO is used rather than weighted average.
b The cost of ending inventory will be greater if FIFO is used rather than LIFO.
c The gross profit will be greater if FIFO is used rather than LIFO.
d All of the above are true.
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