$12$ Multiple Choice $1\mathrm{.}5$ points

Assuming continued inflation, a firm that uses LIFO will tend to have a$($n$)$ current ratio than a firm using FIFO, and the difference will tend to

$q,$ as time passes.

identical; remain the same

higher; increase

higher; decrease

$1$

$2$

lower; increase

lower; decrease

$3$

Clear my selection