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XYZ Company's inventory balance at January 31 was lower using the FIFO method than...

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Question

Accounting

XYZ Company's inventory balance at January 31 was
lower using the FIFO method than it would have been
had XYZ Company used the LIFO method. Assuming there
was no beginning inventory, the month of January was:
a period of inflation
a period of deflation
a period where the cost of purchases was the same throughout the month
unable to determine with the information provided

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