Question: When inventory costs are decreasing the LIFO costing method will generalyresult in:Exam 2 GORNSO a higher gross profit than under FIFO,O a lower gross profit

When inventory costs are decreasing the LIFO costing method will generalyresult in:Exam 2GORNSO a higher gross profit than under FIFO,O a lower gross profit than under FIFO.O the same inventory value as FIFO.O a lower inventory value than under FIFO. None of the above.

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