18 Theoretical inventory valuation methods such as FIFO would be used where: (a) Inventory can be priced

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18 Theoretical inventory valuation methods such as FIFO would be used where:

(a) Inventory can be priced by looking at invoices

(b) Inventory is always sold in a set order, for example oldest inventory is sold first

(c) It is difficult or impossible to match inventory with an invoiced price

(d) Inventory has not been counted at the end of the financial period

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