Question: Question Content Area Taylor Company changed its inventory cost flow assumption from FIFO to LIFO in a period of rising prices. What would be the

Question Content Area

Taylor Company changed its inventory cost flow assumption from FIFO to LIFO in a period of rising prices. What would be the effect of this change on ending inventory in the year of the change?

.

decreased ending inventory

.

cannot be determined from the information given

.

increased ending inventory

.

no change in ending inventory

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