Read practice question below and answer. No explanation needed.

Your client is a private company using ASPE standards. If inventory Emacs 1were increasing and your client decided to change the inventory valuation method [for reporting purposes only] from a FIFO to a LIFO method. what would you expect to happen to the value of inventoryr shown on the balance sheet going forward in comparison to its value under FIFO? Why? (3 marks) O Inventory value would increase 0 Inventory value would decrease O FIFO Is not allowed under ASPE 0 Inventory value would not change