Question: FIFO is considered a balance sheet approach for reporting inventory because it: A) better approximates inventory cost necessary to generate revenue B) always result in

FIFO is considered a balance sheet approach for reporting inventory because it:

A) better approximates inventory cost necessary to generate revenue

B) always result in a lower amount of inventory being reported

C) always result in a higher amount of inventory being reported

D) better approximates the value of ending inventory

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