Question: Which statement is FALSE? O FIFO and average cost are allowed in Australia and the United Kingdom. O IFS does not permit the use of

Which statement is FALSE?
O FIFO and average cost are allowed in Australia and the United Kingdom.
O IFS does not permit the use of LIFO.
O LIFO is not allowed in several countries outside the United States.
O If LIFO is no longer allowed to be used in the United States, the tax burden on many companies will be lower.

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