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Which of the following statements concerning a period of rising prices is least accurate? A. Inventory turnover is less using the last in, first out (LIFO) inventory valuation method than using the first in, first out (FIFO) method. B. The debt-to-equity ratio is greater using the last in, first out (LIFO) inventory valuation method than using the first in, first out (FIFO) method. C. Gross profit using the last in, first out (LIFO) inventory valuation method is less than the gross profit using the first in, first out (FIFO) method. |