Income Statement Effects
{"Image DocumentName": "Income Statement Effects", "Image ImageDescription": "In periods of increasing prices. FIFO reports the highest net income. LIFO the lowest. average cost falls in the middle. In periods of decreasing prices. FIFO will report the lowest net income. LIFO the highest. average cost in the middle. 52.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}