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Remaining Time: 42 minutes, 39 seconds. Question Completion Status: In a deflationary period, choosing FIFO over LIFO for inv

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Correct Answer is Cost of goods sold will be higher and ending inventory will be lower.

In a diflationary period the prices of the goods decreases. in which if we switch from LIFO to FIFO The Cost of goods sold will be higher and ending inventory will be lower.

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