When prices are falling:
A) LIFO will result in lower income and a lower ending inventory than will FIFO.
B) LIFO will result in lower income and a higher ending inventory than will FIFO.
C) LIFO will result in higher income and a lower ending inventory than will FIFO.
D) LIFO will result in higher income and a higher ending inventory than will FIFO.

Question

Quizplus · Accepted Answer

The Answer of When prices are falling:
A) LIFO will result in lower income and a lower ending inventory than will FIFO.
B) LIFO will result in lower income and a higher ending inventory than will FIFO.
C) LIFO will result in higher income and a lower ending inventory than will FIFO.
D) LIFO will result in higher income and a higher ending inventory than will FIFO.

When Prices Are Falling