Question: 1 . Which inventory method results in the highest net income during periods of rising prices? a . LIFO b . Weighted average c .

1. Which inventory method results in the highest net income during periods of rising prices?
a. LIFO
b. Weighted average
c. FIFO
d. Specific identification
2. Which inventory method results in the highest net income during periods of falling prices?
a. LIFO
b. Weighted average
c. FIFO
d. Specific identification

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