Question: Question 32 1.5 pts The LIFO conformity rule allows a company to use FIFO for financial reporting and LIFO for income taxes. True False Question

Question 32 1.5 pts The LIFO conformity rule allows a company to use FIFO for financial reporting and LIFO for income taxes. True False Question 33 1 pts A company's liquidation of inventory under LIFO results in higher income during periods of rising costs. Therefore, management can manipulate earnings by delaying purchases until after the end of the fiscal year. True False

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