Question:Which of the following is NOT a characteristic of the LIFO method? 

A During periods of rising prices, LIFO produces higher balance-sheet valuation of inventory than FIFO. 
B During periods of rising prices, LIFO produces lower net income than FIFO. 
C LIFO allows managers to manipulate net income. 
D All of these are characteristics of the LIFO method. 

+ Answer
D 

+ Explanation
Answer not sure

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Md. Habib Ullah

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