Question: Astro company changed its inventory cost flow assumption from FIFO to LIFO in a period of rising prices. What was the result of the change

Astro company changed its inventory cost flow assumption from FIFO to LIFO in a period of rising prices. What was the result of the change on ending inventory in the year of the change?

a. Increased ending inventory

b. Decreased ending inventory

c. No change in ending inventory

d. Cant determine from the information given

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