Which One of the Following Statements Is False

question 30

Multiple Choice

Which one of the following statements is false?

• A) Under conditions of rising prices, the LIFO method results in lower income than the FIFO method.
• B) In most cases, the FIFO method approximates the physical flow of items in inventory.
• C) The LIFO method produces a higher ending inventory value than the FIFO method.
• D) The FIFO method includes holding gains in income.

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Definitions:

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