When Inventory Prices Are Rising,the Ending Inventory Balance Reported on a LIFO

question 88

Multiple Choice

When inventory prices are rising,the ending inventory balance reported on a LIFO basis is generally

• A)lower than on a FIFO basis.
• B)equal to a FIFO basis.
• C)greater than on a FIFO basis.
• D)equal to a weighted-average basis.
• E)greater than a weighted-average basis.

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