Question: Which cost flow method will result in the highest taxes when in an inflationary (rising costs) environment? fifo lifo O weighted average O specific identification

Which cost flow method will result in the highest taxes when in an inflationary (rising costs) environment? fifo lifo O weighted average O specific identification When inventory is purchased on account, what will be the effect on the equation when the company records the transaction? O increase assets and liabilities O increase assets and decrease liabilities increase assets and equity O increase one asset account and decrease another asset account

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