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Explain how the choice of one of the following accounting

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1. Explain how the choice of one of the following accounting methods over the other raises or lowers a company's net income during a period of continuing inflation.

(a) Use of FIFO instead of LIFO for inventory costing.
(b) Use of a 6-year life for machinery instead of a 9-year life.
(c) Use of straight-line depreciation instead of declining-balance depreciation. 

Reference no: EM131146597

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