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Which statement about inventory costing methods is TRUE? a. All statements are true. b. When LIFO is used during a period of rising prices, the
Which statement about inventory costing methods is TRUE?
a. | All statements are true. | |
b. | When LIFO is used during a period of rising prices, the company's gross profit will be higher. | |
c. | During periods of rising prices, using FIFO offers an income tax savings. | |
d. | If the cost of units does not change, all three methods will yield the same results. |
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