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During periods of rising inventory prices, which of the following is likely to be true?...

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Accounting

During periods of rising inventory prices, which of the following is likely to be true?

a. LIFO results in a higher ending inventory than FIFO

b. LIFO results in higher cost of goods sold than FIFO

c. LIFO results in a higher income taxes than FIFO

d. None of the above

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