When perpetual inventorv records are kept, the results under the FIFO and LIFO methods are the same

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"When perpetual inventorv records are kept, the results under the FIFO and LIFO methods are the same as they would be in a periodic inventorv svstem." Do vou agree'.'

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Financial Accounting Text Only

ISBN: 9780006575405

5th Edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel

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Question Posted: Jun 10, 2024 01:12 AM

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When perpetual inventory records are kept, the results under the FIFO and LIFO methods are the same as they would be in a periodic inventory system. Do you agree? Explain.
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When perpetual inventorv records are kept, the results under the FIFO and LIFO methods are the same

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Financial Accounting Text Only

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