The LIFO method is beneficial only when prices are rising and the taxpayer is increasing the quantities of inventory items on hand.

Name: The LIFO method is beneficial only when prices are rising and the taxpayer is increasing the quantities of inventory items on hand.
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The Answer of The LIFO method is beneficial only when prices are rising and the taxpayer is increasing the quantities of inventory items on hand.

The LIFO Method Is Beneficial Only When Prices Are Rising