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In a time of steadily increasing vendor prices with inventory levels staying the same, the FIFO inventory method will result in: a lower inventory amount

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In a time of steadily increasing vendor prices with inventory levels staying the same, the FIFO inventory method will result in: a lower inventory amount on the balance sheet at the end of the year compared to LIFO. the same cost of goods sold amount as that produced by LIFO. a higher cost of goods sold than that produced by the weighted-average method. a higher inventory amount at the end of the year on the balance sheet compared to the weighted-average method

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