Question: Baxter Corporation has been using FIFO during a period of rising costs. Explain whether you would expect each of the following measurements to be higher

Baxter Corporation has been using FIFO during a period of rising costs. Explain whether you would expect each of the following measurements to be higher or lower if the company had been using LIFO.
a. Net income.
b. Inventory turnover rate.
c. Income taxes expense.

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