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1. How are the perpetual and the periodic inventory method different? Explain the methods under the FIFO and LIFO cases 2. Research the percentage of
1. How are the perpetual and the periodic inventory method different? Explain the methods under the FIFO and LIFO cases 2. Research the percentage of completion(POC) method and Completed-contract method for a long-term construction inventory. Explain how inventory, cost, profit, and revenue are recognized under the two methods.
2. Research the percentage of completion(POC) method and Completed-contract method for a long-term construction inventory. Explain how inventory, cost, profit, and revenue are recognized under the two methods.
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