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During periods when costs are rising and inventory quantities are stable, cost of goods sold will be: Multiple Choice Higher under FIFO than average cost.
During periods when costs are rising and inventory quantities are stable, cost of goods sold will be: Multiple Choice Higher under FIFO than average cost. Lower under average cost than LIFO. Higher under FIFO than LIFO. Lower under LIFO than FIFO. 
During periods when costs are rising and inventory quantities are stable, cost of goods sold will be:
Multiple Choice
Higher under FIFO than average cost.
Lower under average cost than LIFO.
Higher under FIFO than LIFO.
Lower under LIFO than FIFO.
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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
9th Edition
125972266X, 9781259722660
