myCority 2020FA1-ACCT-1005-01: M2 QUI... 2 M2 QUIZ (Open 10 5-01) Accounting for Decision Make 16 One of the principal reasons for selecting the LIFO cost flow assumptic instead of the FIFO cost flow assumption in an inflationary economic environment is that: at of Select one: O a, net income will be higher. b. income taxes will be lower. O c. balance sheet inventory values will be higher. O d. a higher selling price can be established