Question: When inventory costs are decreasing, the FiFO costing methad will general resut in: O a lower gross preft than under LIFO O the same inventory

When inventory costs are decreasing, the FiFO costing methad will general resut in:
O a lower gross preft than under LIFO
O the same inventory value as LIFO
O a higher gross profit than under LIFO.
O a higher inventory value than under LIFO
O None of the above.

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