When prices are rising, the value of ending inventory using the FIFO method rather than LIFO gives:
inventory a higher value but lowers net income.
inventory a lower value and also lowers net income.
inventory a lower value and net income a higher value.
both inventory and net income a higher value.
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Home » Business » When prices are rising, the value of ending inventory using the FIFO method rather than LIFO gives: inventory a higher value but lowers net income. inventory a lower value and also lowers net income.