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When costs are rising over time, does FIFO or LIFO result in higher profits?

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When costs are rising over time:

LIFO results in higher profits that FIFO.

Cost of goods sold using the weighted average method will be greater than LIFO cost of goods sold.

balance sheet inventory balances will be greater under LIFO.

FIFO results in higher profits than LIFO.

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This solution provides a brief explaination for the inventory accounting method that provides for higher profits?

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