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Which inventory method produces the lowest income tax during a period of inflation? A. LIFO B. FIFO C. Weighted-average D. All of the above would have the same tax effect.
LIFO produces the lowest income tax during a period of inflation.
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Asked 4/30/2015 11:00:39 PM
Updated 3/27/2016 1:27:00 AM
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LIFO produces the lowest income tax during a period of inflation.
Added 3/27/2016 1:27:00 AM
This answer has been confirmed as correct and helpful.
Confirmed by Andrew. [3/27/2016 2:40:44 AM]
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Updated 5/2/2015 1:22:40 AM
1 Answer/Comment
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Added 5/2/2015 1:22:40 AM
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