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Answer the following two questions assuming that inventory costs are increasing over time (i.e., assume a period of inflation). Answer choices may be used once,
Answer the following two questions assuming that inventory costs are increasing over time (i.e., assume a period of inflation). Answer choices may be used once, more than once, or not at all. Match the options to the questions below. Question options: 1. LIFO 2. FIFO 3. Weighted average a) Which inventory costing method will show the highest net income? b) Which inventory costing method will show the smallest amount of ending inventory?
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