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1. If a sales manager earns bonus based on a percentage of gross profit, which inventory costing method would he prefer? FIFO or weighted average

1. If a sales manager earns bonus based on a percentage of gross profit, which inventory costing method would he prefer? FIFO or weighted average cost? Why?

2. 1 advantage and 1 disadvantage of using FIFO method of inventory costing assuming the trend of rising costs.

3. Explain what book value per share is. Discuss why it is not always a good estimate of its market value.

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