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Which one of the following is not an advantage of LIFO (Points

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Which one of the following is not an advantage of LIFO? (Points: 4)
In periods of rising prices, less income taxes are paid.
In periods of rising prices, less holding gains are reported in net income.
Record keeping and financial statement preparation are easier.
Conservative income statements and balance sheet disclosures result from rising prices.
Submitted: 5 years ago.
Category: Homework
Expert:  Chris M. replied 5 years ago.

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