In an environment of rapid deflation, LIFO inventory method would report the highest net income.
Net income is the entire amount of money that a person or company made over a specific time period after deducting taxes, costs, and interest. The LIFO inventory technique would indicate the largest net profitability in a situation of fast deflation.
A company's net income, which can also be referred to as "net profit," "net earnings," or simply "profit," calculates the profitability of the business. When a corporation has a net loss, it is the exact opposite of net income. Net income is the most significant figure in accounting after sales. You're likely on the correct track if your net income is rising.
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