During Times of Rising Prices, Which of the Following Is

question 109

Multiple Choice

During times of rising prices, which of the following is not an accurate statement?

• A) Average costing will yield results that are between those of FIFO and LIFO.
• B) LIFO will result in a higher cost of goods sold than FIFO.
• C) FIFO will result in a higher net income than LIFO.
• D) LIFO will result in higher income taxes than FIFO.

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