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9) In a period of rising prices, which inventory method will result in the lowest income taxes? a) Average Cost. b) FIFO. c) LIFO. d)

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9) In a period of rising prices, which inventory method will result in the lowest income taxes? a) Average Cost. b) FIFO. c) LIFO. d) None of the above. 10) Goods shipped to you from a vendor whose shipping terms are FOB Shipping Point": a) Belong to you at the moment of shipment. b) Belong to you only when received. c) Belong to the shipping company until delivered. d) None of the above

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