Using the first in, first out (FIFO) ean for pricing stock issues means that when prices are
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Using the first in, first out (FIFO) ean for pricing stock issues means that when prices are rising:
A product costs are overstated and_ profits understated;
B_ product costs are kept in line with price changes;
C product costs are understated and profits understated;
_ product costs are understated and profits overstated. CIMA Stage 1.Appendix
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