Question: WHen prices are decreasing the ending inventory balance reported on a FIFO basis is generally... a. greater than a LIFO basis b. lower than on

WHen prices are decreasing the ending inventory balance reported on a FIFO basis is generally... a. greater than a LIFO basis b. lower than on a LIFO basis c.equal to ending inventory reported on a LIFO basis d. equally likely to be higher or lower on a LIFO basis as opposed to a FIFO basis

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