In a period of rising inventory prices,use of the FIFO cost flow method would cause a company to pay more income taxes than would use of LIFO.

Name: In a period of rising inventory prices,use of the FIFO cost flow method would cause a company to pay more income taxes than would use of LIFO.
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In a period of rising inventory prices,FIFO will produce the lowest cost of goods sold,resulting in the highest net income and the highest income tax expense.

In a Period of Rising Inventory Prices,use of the FIFO