A firm using LIFO accounting for inventory is likely to have a lower inventory turnover ratio than

Question:

A firm using LIFO accounting for inventory is likely to have a lower than one using FIFO. Is this correct?

Inventory Turnover Ratio
Inventory Turnover RatioThe inventory turnover ratio is a ratio of cost of goods sold to its average inventory. It is measured in times with respect to the cost of goods sold in a year normally. Inventory Turnover Ratio FormulaWhere,...