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meed help In periods of rising costs, which is an advantage of using the LIFO inventory costing method? Net income will be the highest and
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In periods of rising costs, which is an advantage of using the LIFO inventory costing method? Net income will be the highest and thus reflect the prosperity of the company. Cost of goods sold will include the latest (most recent) costs and thus will be more realis Ending inventory will indude the latest (most recent) costs and thus be more realistic. Phantom profits are reported Step by Step Solution
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