A company uses the LIFO inventory method to determine cost. One of the managers complains that this

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A company uses the LIFO inventory method to determine cost. One of the managers complains that this is improper. He states: "We always sell our oldest products first. So we should be using first in, first out inventory costing." What would you say in response to his comment?
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College Accounting Chapters 1-30

ISBN: 978-0077862398

14th edition

Authors: John Price, M. David Haddock, Michael Farina

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