which of the following statements is(are) true? multiple choice in a period of rising costs and stable inventory levels, using the lifo method leads to a lower taxable income and higher net income compared to the fifo method. in a period of rising costs and stable inventory levels, using the fifo method leads to a higher taxable income and higher net income compared to the lifo method. in a period of falling costs and stable inventory levels, cost of goods sold is the same under lifo and fifo. all of the other answer choices are true.

The conception mentioned is the LIFO system. Option B, in a period of rising costs and stable inventory levels, using the FIFO system leads to a higher taxable income and higher net income compared to the LIFO system.

LIFO stands for “ Last- In - First- Out ”. It's a system used for cost inflow supposition purposes in the cost of goods ended computation. The LIFO system assumes that the most recent products added to a company’s force have been sold first. The costs paid for those recent products are the bones used in the computation.

FIFO stands for first in, first out, an easy-to-understand force valuation system that assumes that goods bought or produced first are sold first. In proposition, this means the oldest force gets packed out to guests before the newer force.

When prices are rising, you prefer LIFO because it gives you the highest cost of goods sold and the smallest taxable income. First- in- first- out, or FIFO applies the foremost costs first.

In rising requests, FIFO yields the smallest cost of goods sold and the loftiest taxable income. When you use the periodic, or book, force system, you value your force at specific intervals and lump together the results

To know more about the LIFO system,

brainly.com/question/24938626

#SPJ4