Identify Which Inventory Costing Method (LIFO or FIFO) Achieves the Effect

question 171

Multiple Choice

Identify which inventory costing method (LIFO or FIFO) achieves the effect listed in the following items:
-Prices are declining; gross margin is higher with this method.

• A)LIFO
• B)FIFO

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Definitions:

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Flexible dome-shaped devices inserted into the vagina to cover the cervix as a method of contraception.

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