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During periods of rising prices and stable or growing inventories, the most informative inventory accounting method for income statement purposes is: A. LIFO because it allocates current prices to cost of good sold (COGS) and provides a better measure of current income. B. weighted average because it allocates average prices to cost of good sold (COGS) and provides a better measure of current income. C. FIFO because it allocates historical prices to cost of good sold (COGS) and provides a better measure of current income. |