In a period of rising inventory costs,the LIFO method would result in the highest net income.

Question

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In a period of rising inventory costs, the LIFO method would result in lower net income compared to other inventory valuation methods, such as FIFO or average cost. This is because LIFO assumes that the most recently purchased inventory items are sold first, resulting in higher cost of goods sold and lower ending inventory values. Lower inventory values lead to higher expenses and, therefore, lower net income.

In a Period of Rising Inventory Costs,the LIFO Method Would