____ 8. In a period of rising prices, the inventory method that results in the lowest income tax payment is
A. LIFO.
B. FIFO.
C. average cost.
D. specific identification.
Answer:A
____ 8. In a period of rising prices, the inventory method that results in the lowest income tax payment is
A. LIFO. B. FIFO. C. average cost. D. specific identification.