Question: When inventory prices are fallinthe LFO costing method will generally result in a: a. lower inventory value than under FIFO b.. higher gross profit than

When inventory prices are fallinthe LFO costing method will generally result in a: a. lower inventory value than under FIFO b.. higher gross profit than under FIFO c. lower gross profit than under FIFO d. lower owners' equity balance than under FIFO

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