The use of LIFO during a long inflationary period can result in:
A) A net increase in income tax expense.
B) An inflated balance sheet.
C) Significant cash flow advantages over FIFO.
D) A reduction in inventory turnover over FIFO.

Question

Quizplus · Accepted Answer

The Answer of The use of LIFO during a long inflationary period can result in:
A) A net increase in income tax expense.
B) An inflated balance sheet.
C) Significant cash flow advantages over FIFO.
D) A reduction in inventory turnover over FIFO.

The Use of LIFO During a Long Inflationary Period Can