Business, 18.06.2020 02:57 alexportillo859

In times of falling prices, choosing LIFO over FIFO as an inventory cost method would affect the financial statements as follows: Question 14 options: a) Cost of goods sold will be higher and ending inventory will be lower b) Cost of goods sold will be higher and ending inventory will be higher c) Cost of goods sold will be lower and ending inventory will be higher d) Cost of goods sold will be lower and ending inventory will be lower

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In times of falling prices, choosing LIFO over FIFO as an inventory cost method would affect the fin...