Question: Please answer the following questions). You must do an initial post and one reply to receive credit. Compared to the FIFO method of costing inventories,

Please answer the following questions). You must do an initial post and one reply to receive credit. Compared to the FIFO method of costing inventories, does the LIFO method result in a larger or smaller net income in a period of rising prices? Compared to the FIFO method of costing inventories, does the LIFO method result in a larger or smaller net income in a period of falling prices

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