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Tutorial 15858

During periods when costs are rising and inventory quantities are stable, cost of goods sold will be: a) Lower under LIFO than FIFO. b) Higher under...

Question:

During periods when costs are rising and inventory quantities are stable, cost of goods sold will be:

a)            Lower under LIFO than FIFO.

b)            Higher under FIFO than LIFO.

c)            Higher under FIFO than average cost.

d)            Lower under average cost than LIFO.

 

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