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c. In a period of falling prices, how would the following ratios be affected by the accounting decision to select LIFO, rather than FIFO,
c. In a period of falling prices, how would the following ratios be affected by the accounting decision to select LIFO, rather than FIFO, for inventory valuat increase, D for decrease, and N for no change. [2 marks] Ratio Current ratio Gross margin Interest coverage ratio Debt-to-equity ratio LIFO
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