Astro Company changed its inventory cost flow assumption from FIFO to LIFO in a period...
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Accounting
Astro Company changed its inventory cost flow assumption from FIFO to LIFO in a period of rising prices. What was the result of the change on net income in the year of the change?
| a. | Increased net income |
| b. | Decreased net income |
| c. | No change in net income |
| d. | Cannot determine from the information provided
|
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