If a company values its stock in the period of rising prices using LIFO method; there is a tendency for it to?

By: |Published on: Apr 8|Categories: Accounting JAMB| 0 comments

A. have a higher cost of goods sold
B. have a higher value of closing stock
C. have a higher gross profit
D. pay higher income tax

Correct Answer:

Option C – have a higher gross profit

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