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If the unit price of inventory is increasing during a period, a company using the LIFO inventory method will show less gross profit for the period, than if it had used the FIFO inventory method. a. True
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If the unit price of inventory is increasing during a period, a company using the LIFO inventory method will show less gross profit for the period, than if it had used the FIFO inventory method.

a. True
b. False

User Vincent Menzel
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1 Answer

3 votes

A) I think the answer should be True

User Newleaf
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