Take Test: Unit 2 CA: Financial Statements, Tax, and Value &...

When prices are rising, valuing ending inventory using the FIFO method rather than LIFO gives _____. (CSLO 2)

	inventory a higher value but lowers net income.
	inventory a lower value and also lowers net income.
	both inventory and net income a higher value.
	inventory a lower value and net income a higher value