What happens when prices are falling Multiple Choice O O LIFO will result in lower net Income and a lower Inventory valuation

Question

What happens when prices are falling Multiple Choice O O LIFO will result in lower net Income and a lower Inventory valuation than will FIFO LIFO will result in higher net Income and a higher Inventory valuation than will FIF LIFO will result in lower net Income and a higher Inventory valuation than will FIF

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