. A decision maker is studying a company that has applied LIFO for over 20 years during a period of inflation. The decision maker is looking at the most recent financial statements and notices a note that indicates that a LIFO liquidation occurred. What information is most likely being conveyed by this note? a. Inventory on the balance sheet is worth more than is reported. b. Inventory on the balance sheet is worth less than is reported. c. The company may be reporting an artificially high net income. d. The company has attempted to reduce its income tax payment by a significant amount this year.