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37) Which of the following statements regarding LIFO is incorrect? A) LIFO is an assumption about how costs flow B) This method leaves the oldest

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37) Which of the following statements regarding LIFO is incorrect? A) LIFO is an assumption about how costs flow B) This method leaves the oldest costs in ending inventory C) Ending inventory comes from the most recent purchases. D) The last units in are assumed to be the first units sold

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