Brief Exercise 6-4 The management of Rosenquist Corp. is considering the effects of various inventory-costing methods on its financial statements and its income tax expense. Assuming that the price the company pays for inventory is increasing, which method will: (a) provide the highest net incone (b) provide the highet ending inventary (c) resualt in the lowest inceme tax expense (d) result in th most stable earnings over a number of years? Click if you would like to Show Werk fer this question: Opm Show Wrk NOW LIST Se Brief Exercise 6-6 For each of the following cases, state whether the statement is true for LIFO or for FIFO Assume that prices are rising. results in ahigher quality of eamings ratio tb)resuits in higher phentom profits (results in higher net income. results in lower taxes. results in lower net cash provided by sperating activities Click if you would like to Show Werk for this question: 9en Show Wr