I:11-46 Inventory Method. Zap Company manufactures computer hard drives. The cost of hard drives has been declining
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I:11-46 Inventory Method. Zap Company manufactures computer hard drives. The cost of hard drives has been declining for years. Sales totaled $4,000,000 last year. Zap’s ending inventory was valued at $300,000 under FIFO. The company’s new president is trying to cut taxes and asks you whether the company should switch to LIFO. What do you recommend?
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