Accounting MCQ Accounting The primary reason for the popularity of LIFO is that it gives:

The primary reason for the popularity of LIFO is that it gives:

Naim 12:38 Accounting

The primary reason for the popularity of LIFO is that it gives:

A) Better matching of physical flow and cost flow.

B) A lower income tax obligation when inventory costs are rising.

C) Simplified recordkeeping.

D) A simpler method to apply.

Answer: B

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