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Assuming high inflation in the short run and lower levels of inflation in the long run, the current ratio of a company using last in, first out (LIFO) relative to a firm using first in, first out (FIFO), will be: A. lower, and the difference between the two firms' current ratios will increase as inflation decreases. B. lower, and the difference between the two firms' current ratios will decrease as inflation decreases. C. higher, and the difference between the two firms' current ratios will decrease as inflation decreases. |