When costs are increasing over time, which assumption (LIFO or FIFO) results in higher reported Net Income? In a higher reported value for Inventory on the Balance Sheet?

当成本随着时间推移增加时，哪种方法(LIFO或FIFO)会导致报告的净利润偏高？在资产负债表中列式的存货价值偏高？

youdao

Without going into all the accounting intricacies, LIFO understates inventory value, overstates the cost of sales, and therefore lowers reported earnings.

FORBES: What You Should Know About Inflation