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6.3 Financial Statement Effects With regard to choosing a inventory cost determination method, which of the following statements is correct? There is no need to
6.3 Financial Statement Effects With regard to choosing a inventory cost determination method, which of the following statements is correct? There is no need to disclose in the financial statements any changes in inventory costing methods. The method chosen should correspond as closely as possible to the actual physical flow of the goods. Specific identification is the preferred method of cost determination for any inventory valuation. Once a company has chosen a particular cost formula, it can never change that formula
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